Positive Pay

Safeguarding against fraud is among the most important functions in banking today. Chain Bridge Bank, N.A. makes this front and center with Positive Pay, a tool that detects potential fraud activity by matching the details of authorized debits provided by the client against the associated ACH and check transactions presented for payment.

How it Works

Positive Pay is designed for seamless integration into commercial cash management systems like Chain Bridge Bank, N.A. Treasury Management.

There are four steps to implementing Positive Pay: providing the details of authorized debits, matching authorized debits against presented transactions, reviewing discrepancies, and potentially suspending any suspicious items. 

Here is how Positive Pay works:

  1. You provide us with details of authorized debits, including:
    • Payee name
    • Check number
    • Dollar amount
    • Issue date
  2. Our system automatically matches this information against presented transactions.
  3. Any discrepancies are flagged for your review.
  4. You have same-day access to suspend suspicious items by placing stop-pays and returning fraudulent debits.
Check Fraud Prevention 

Positive Pay is a powerful way to mitigate the threat of check fraud, which remains one of the leading types of financial scams owing to the ability of fraudsters to steal, alter, and forge checks. Because it is designed to scrutinize the details of authorized debits, Positive Pay can:

  • Detect altered checks, including changes to payee names, amounts, or dates.
  • Identify counterfeit checks using unauthorized check numbers.
  • Prevents check duplication attempts.
ACH Fraud Protection

ACH transaction risk can be mitigated by Positive Pay, which allows Chain Bridge Bank, N.A. to automatically flag any unauthorized or suspicious entries by comparing incoming ACH transactions against the preapproved list. Positive Pay offers the ability to:

  • Scrutinize incoming ACH transactions against your approved list.
  • Flag unauthorized electronic withdrawals.
  • Help prevent account takeover attempts.
Real-time Monitoring 

We provide commercial clients with real-time monitoring of their Positive Pay activity to help them optimize their security and cash management functions. Positive Pay provides:

  • Continuous surveillance of your account activity.
  • Immediate alerts for suspicious transactions.
  • Quick responses to potential fraud attempts.
Customizable Security Settings
Optimizing security settings to fit your organization’s needs should be an important goal of all anti-fraud measures. Positive Pay enables you to:
  • Set transaction limits for additional control.
  • Define specific criteria for flagging suspicious activity.
  • Tailor the system to your business's unique needs.
Historical Analysis
Positive Pay meets the recordkeeping needs of all types of organizations. In addition to detailed transaction logs, its data functions help spot suspicious patterns and assist accountants, controllers, and other finance managers with their oversight duties. Positive Pay is able to:
  • Maintain a detailed log of all transactions.
  • Help identify patterns that may indicate fraudulent activity.
  • Assist in auditing and reconciliation processes.
Reasons to Add Positive Pay

Our commitment to your organization’s financial security goes beyond just offering tools. Our team of operations specialists are experts in administering the Positive Pay anti-fraud process. They work diligently and efficiently with clients to flag and review suspicious debit activity, ensuring your peace of mind across heavy volume situations.

Consider the Benefits of Positive Pay:
  1. Real-time fraud detection. Catch potential fraud attempts before they impact your cash flows.
  2. Easy integration. Positive Pay is seamlessly incorporated into our Treasury Management platform.
  3. No additional cost. We provide this service free of charge to all our commercial clients.
  4. Expert support. Our operations specialists are on hand to assist you and your back office, especially during high-volume periods.

Positive Pay acts as a shield against fraud attempts on commercial cash flows. It provides multiple layers of security to keep organizations safe from increasingly sophisticated fraud attempts. By applying advanced technology to your Chain Bridge Bank, N.A. Treasury Management platform with our team's expertise, we offer you a way to mitigate risk so you can focus on running your operations.

Safeguard your commercial cash flow today with Chain Bridge Bank, N.A.’s Positive Pay. Contact us today to learn more about how we can protect your organization from financial fraud.

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