Positive Pay

Positive pay is a fraud prevention service where a business provides the bank with a list of issued checks. The bank matches presented checks against the issue list and flags exceptions.

Items that do not match can be returned or reviewed based on the customer's instructions. Positive pay helps reduce check fraud and counterfeit items. It helps detect counterfeit checks before funds are released.

Related Terms

Check

A check (or cheque in British English) is a written order instructing a bank to pay a specific amoun...

Check Number

A check number is a unique sequential number printed on each check to help account holders track and...

Counterfeit Check

A counterfeit check is a fake or altered check created to defraud the payer or bank. It may use forg...

Reconciliation

Reconciliation is the process of comparing two sets of records to ensure they match - typically comp...

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