Did You Know – What is Positive Pay and Why Do You Need It?

Positive Pay is a way to make your life as a business owner easier. Don’t believe us? Grab a coffee and we’ll explain.

When you open up shop every day you have emails to answer, employees to guide, problems to solve — not to mention working on your actual product or service. On top of all of that, you have customers and clients to assist. Our heads are spinning just thinking about it.

Enter Positive Pay. Managing finances might not be your jam (we get it, not everyone enjoys money management like we do), but Positive Pay lets you monitor your deposits to help protect you from fraud. When we process the checks you issue we match the account number, check number and dollar amount of each check presented for payment. If all three components of the check don’t match, it won’t clear, and you will receive a notice so you can review the check and decide whether or not you want it paid.

At First County Bank, Positive Pay is available for Checks and ACH deposits and will include daily account reconciliations. To sign up, talk to one of our Digital Ambassadors or our Cash Management team. We’ll give you a tool to monitor for fraud so you can get back to your to-do list.