Business
Positive Pay
According to the Association for Financial Professions, in 2024 79% of organizations were the targets of payment fraud with checks, and Automated Clearing House (ACH) transactions topping the list of payment methods most vulnerable to fraud.
Business owners looking to protect their accounts from this increasing threat can opt-in to Positive Pay, a comprehensive fraud prevention system designed to detect, and protect from, unauthorized check and ACH transactions.
How Positive Pay Works
Positive Pay protects businesses in two ways:
Check Protection with Payee Matching
Positive Pay is designed to protect your business from check fraud.
With each check written, a business will provide information about the payment including payee, date and amount, to MutualOne Bank.
When that check is presented for payment the Positive Pay system will instantly review the check with the information on file. Checks that pass inspection will clear without delay.
If any differences are detected the check will be flagged and held for review and approval by the business through Online Banking.
ACH Transaction Monitoring
Protect from unauthorized ACH transactions by setting certain parameters including, but not limited to, transaction types or dollar limits.
Pre-approved transactions will be processed automatically, while ACH transactions outside of the set parameters will be flagged for your review before being processed or returned.
How to Sign Up
Positive Pay can be added to any business checking account for an extra charge.
Use the form below to contact a member of our team to get started or learn more.
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