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Positive Pay Service

What is Positive Pay?

Positive Pay is an automated check matching service that offers a high level of security and protection against fraud including:  altered checks, counterfeit checks, stolen check stock and valid issue stolen checks.

How does Positive Pay work?

After you have issued checks (but before distribution), you provide First Southern Bank with an Issue File.  This file contains critical information including check number, date issued, dollar amount, and account number.  When the checks are presented for payment, we cross reference each check against the Issue File.  If the information on the check is not identical to the entry in the Issue File for check number, issue date, dollar amount and account number, we notify you of the discrepancy. You make a pay/no-pay decision on each exception item. This puts you in complete control over which checks to honor and which are to be returned unpaid by the Bank.  And, with Positive Pay, unmatched items are identified daily facilitating your month-end account reconcilement.

Positive Pay is:

• Convenient –   Provides review for potentially fraudulent items online through our business internet solution BizBanc.
• Protection – Compares checks to the Issue File you create and only those that match are paid.
• Peace of Mind – Affords your control over which checks are paid or returned unpaid.
• Easy to Use –Customizes and streamlines the file import process giving you import capability for issued items in virtually any file format.

Positive Pay is right for you if:

• Your company experienced check fraud.
• Your company issues numerous checks.
• You want the security of knowing that only legitimate checks issued by you are clearing your account.
• You are able to create a file that includes your issued check data.