Positive Pay

Reduce the risk of check fraud

Positive Pay allows you to submit an electronic file each day detailing the checks your business issues. As each check is presented for payment, the Positive Pay system electronically compares it to the information in your file. Any discrepancies are flagged and reported through a special email alert and on Bank7 Business Online Banking, our online Treasury Management system, where you can see an image of the check and make an online “pay/no pay” decision.

Features:

  • You can send Bank7 a file detailing the checks that you have issued.
  • Each day, your issued checks are compared with the checks that are presented for payment against your account.
  • If a presented item does not match the MICR information contained in your issued items file, you will receive a notification of the exception item.
  • Positive Pay can detect duplicate items, amount differences, and items presented that are not included in your issued items list.
  • The decision window allows you sufficient time to review and research your exception items.

Benefits:

  • Bank7’s Positive Pay service provides you the tools to detect and counteract check fraud.
  • Allows you to identify discrepancies before the posting of an item is finalized.
  • Minimizes the risk of loss due to fraud.
  • The Teller Line Positive Pay feature allows any Bank7 teller to verify or reject a check presented on your account.
Watch the Bank7 Business Online Banking video and check out all the great features!
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For questions or enrollment Information

Email Treasury Management or call 800-259-0921.

Please do not send sensitive information via email to Bank7 (i.e. account numbers, SSN #’s or other financial information).  Email is not a secure form of communication.

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