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Positive Pay Fraud Protection

A company lacking proper defenses is vulnerable to financial loss, costly disruptions and reputation damage. Identifying and preventing fraudulent check payments is a difficult task for any organization.

With Positive Pay, BB&T provides powerful protection by detecting and returning suspicious checks.

Benefits

Secure Your Assets

  • Detect suspicious check activity
  • Reduce the risk of financial loss
  • Safeguard your company's reputation

Increase Control

  • Enhance visibility of check activity
  • Solidify internal controls
  • Reinforce audit trails

Streamline Business Operations

  • Minimize distruption to operations
  • Simplify account reconciliation
  • Automate accounts payable workflow
  • Save time by reviewing only exceptions

Key Features

Positive Pay leverages information shared between your company and BB&T to fight fraud.

Essential Check Screening

  • Check number, dollar amount and payee (optional) fields for each paid check are screened and matched
  • Exception checks are manually examined by BB&T for encoding errors and misreads

Convenient Access

  • Pay or return decisions for exceptions are made within CashManager OnLine®
  • Images of exception checks are available for viewing through CashManager OnLine
  • Email alerts can be activated for multiple users and provide daily notification indicating whether or not your company has exceptions to review

Secure Authorization

  • Company administrators can establish separate user entitlements for import and exception decision functions to strengthen and simplify internal controls

Simplified Reconciliation

  • Mismatching checks are identified sooner and account activity reconciled quickly with increased accuracy

How it Works

The entire BB&T branch network is part of Positive Pay's protection. Any checks presented to the teller in a branch are compared to your company's issued check file. If the check does not meet the information in the issue file, the customer at the teller line will be referred to your company.

Here's how Positive Pay works:

  1. Information Sharing
    Your company sends a file to BB&T containing issued check information. You can import the file through BB&T CashManager OnLine or send by data transmission. Issued check data submissions are processed every 30 minutes, Monday through Friday, from 8 am to 7 pm ET.
  2. Check Distribution
    After providing this data to BB&T, your company releases the checks to each payee.
  3. Automated Data Comparison
    BB&T compares posted checks to your company’s issued check information to identify any check number, dollar amount or payee name (optional) mismatches. Exception checks are manually examined by BB&T for encoding errors and misreads. If applicable, mistakes are corrected.
  4. Notification
    Based on your custom notification preferences, BB&T sends email notifications alerting you of any Positive Pay exceptions for the day. To review your exceptions, log on to BB&T CashManager OnLine.
  5. Decision Action
    Your company advises BB&T of exception checks to be paid or returned each business day by the decision deadline. If you take no action, BB&T safeguards your account by returning all exceptions (when a default decision of return is established).

Service Options

For even greater protection against fraudulent checks, consider these additional servicing options:

Payee Positive Pay

  • Screens and matches payee names in addition to the standard check number and amount fields
  • Provides even stronger protection than traditional Positive Pay

Maximum Amount or Stale Date Controls

  • Flag all checks over specific thresholds as exceptions
  • Effectively automates or simplifies internal controls and provides additional oversight for management

Related Services

Positive Pay is an effective tool for preventing check fraud, but it is only one component of a complete fraud protection solution. At BB&T, we help our clients build a comprehensive strategy for safeguarding your business, streamlining payments and optimizing cash flow.

ACH Control—Safeguard your accounts from fraudulent, unauthorized or erroneous ACH activity.

UPIC—Use a Universal Payment Identification Code to receive electronic ACH payments without divulging confidential banking information.

Reverse Positive Pay—Employ this alternative to Positive Pay to detect check fraud and reduce risk even in situations where timely issued check information cannot be submitted.

Full Reconciliation—Automate reconciliation by receiving a detailed report or data file of all checks issued, paid and outstanding since the last reconcilement period.

Get Assistance

By Phone

Call BB&T Treasury Management at 800-810-5625.

By Email

Send us a message.

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