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Cascade Positive Pay
MAINTAIN TIGHT CONTROL OVER CHECK
ISSUANCE AND PAYMENT
Cascade’s Online Positive Pay check fraud prevention service is an efficient way for you to combat check fraud.
It ensures that only checks issued by you are paid through the check collection system.
IS YOUR BUSINESS A GOOD CANDIDATE FOR ONLINE POSITIVE PAY?
Yes, if your company has ever experienced check fraud.
Yes, if your company issues numerous checks.
Yes, if you want the assurance that all checks clearing your account were actually issued by you.
HOW ONLINE POSITIVE PAY WORKS
- Each time you generate checks you deliver “checks issued” via Online Banking. You have the option to enter
checks manually or import data from your accounts payables system.
- We compare your issued checks’ data to checks presented to ensure that they were issued by you and are
presented for the correct amount. If any items do not match the issued data, we provide that information to you
early in the day, via Online Banking, so that you can determine whether to honor or return the item. The following
data is subject to comparison:
- Checks not included in the issue file
- Checks with duplicated serial numbers
- Checks without serial numbers
- Checks for which the paid amount differs from the amount on your issue file
- Stale dated checks
- As you review exception items you may immediately enter pay or return decisions for each check online.
- Our Teller Positive Pay Service integrates your checks issued information with our teller system,
offering you further protection if criminals come to our banking offices to cash fraudulent checks drawn on your account.
- Via Online Banking, you have access to images of exception items — reducing your research time.
HOW ONLINE POSITIVE PAY BENEFITS YOUR BUSINESS
Eliminate the driving expense and the time you or your employees spend going to the bank to make deposits.
- It reduces disbursement risk by allowing you to review “suspect” items online. You determine what checks are
appropriate to pay.
- By significantly reducing the potential for check fraud, you save time, effort and money.
- You transmit issued files to Cascade before you release any checks, and exception processing time is minimized.
- Account reconciliation is simplified since all unmatched items are examined daily rather than just month-end.
REDUCE YOUR RISK
Contact a Treasury Management Officer for more information and a free, no obligation live demonstration.
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