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Positive Pay

Check fraud protection that is a vital security measure in today’s ever-changing business environment.

This secure, efficient fraud detection tool is offered to Community Bank business clients to help you prevent check fraud. This service matches the account number, check number and dollar amount of each check presented for payment against a list of checks previously authorized and issued by the company. All three components of the check must match exactly or it will not pay.

 

Positive Pay required the company to upload a file of issued checks to the bank via Treasury Management. When those issued checks are presented for payment at the bank, they are compared electronically against the list of transmitted checks. The check-issue file sent to the bank contains the check number, account number, issue date, and dollar amount.

 

When a check is presented that does not have a “match” in the file, it becomes an “exception item.” Each day the customer is presented with their exception items through Treasury Management. The customer has the ability to tell the bank whether to pay the item of return it to the depositing bank.

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“Our relationship with Community Bank is better described as a valued partnership than a customer vendor relationship. Community Bank’s culture centers around the human relationships. They invest the time and energy to get to know individuals in our organization and understand what will add value to our current situation. They work hard to optimize that value and the result has been a highly transparent and efficient relationship that has indeed optimized our organization’s objectives. It is a banking relationship that goes beyond the products themselves and continues to be viewed as a valued partner for our organization.”

— Vance, Community Bank customer in Mississippi