Despite the focus on online and digital theft, businesses still lose billions of dollars a year to lawbreakers who alter or forge paper checks. Your business can protect its finances - and profits - by enlisting Cashmere Valley Bank to closely inspect every one of your checks presented for payment. Positive Pay is a cost-effective way to detect suspicious activity and reduce staff time spent fighting fraud.
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Your business sends Cashmere Valley Bank a computer file each time it issues a batch of checks or manually enters a check
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The file contains detailed information that includes the check number, the dollar amount and the recipient
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When one of your business checks is presented for payment, it's compared to the computer file
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If the information doesn't match up, we flag the check and notify you electronically through Online Cash Management
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Your business then has the opportunity to reject the check or authorize payment
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Your business can authorize any number of employees to review questionable checks