With Positive Pay, Bank of Sacramento and its business customers work together to identify fraudulent items before they are cashed. Positive Pay is integrated with our Online Banking system, so no additional software is needed.
Each time you issue checks, you send a file containing the check number and the check amount to the Bank using an easy to follow screen within Online Banking. Most accounting software has reporting capabilities that make the creation of this file straightforward.
After you send your file through Online Banking, we do all the work to compare all the checks you have issued to those checks presented to the Bank for payment.
Any exceptions, such as a difference in check amount between those issued and presented, or a check presented that was not in your issued check file, appears in Online Banking. You have until noon each banking day to make the decision to pay or not to pay the check. Once again, your decisions are automated through an easy to use screen in Online Banking. (If no decision is made by noon, the checks will be paid.)
Positive Pay is a service provided to our customers free of charge. Bank of Sacramento recognizes that the instances of check fraud are increasing at an alarming rate and wants to protect our customers from the costs in time and money in dealing with these issues. In addition, detecting check fraud quickly often stops other business losses from occurring.