Help Protect Your Organization from Check and ACH Fraud
At Savings Bank of Walpole, we know how hard organizations in our community work to build, manage, and protect what they’ve created. From local businesses to nonprofit organizations, safeguarding finances is critical. Unfortunately, check fraud and electronic payment fraud continue to be a serious and growing concern for organizations of all sizes, including right here in the Monadnock Region.
That’s why we offer Positive Pay, a powerful fraud-prevention service designed to help your organization stay one step ahead of unauthorized check and ACH transactions.
How Positive Pay Works
Positive Pay adds an extra layer of protection by comparing checks and ACH transactions presented for payment against a list of payments your organization has authorized. If something does not match, the item is flagged so you can review it and decide whether to pay or return it before it clears your account.
Positive Pay includes:
- Check Positive Pay
Each week your organization provides a list of issued checks, including check numbers, dates, amounts, and payees. As checks are presented for payment, they are compared against that list. Any mismatches are flagged as exceptions for your review. - ACH Positive Pay
This service applies similar controls to electronic payments. You set authorization rules for ACH transactions, and any items that fall outside those parameters are flagged for your review before posting.
Why Positive Pay Matters
Fraudsters often target organizational accounts through counterfeit checks, altered payments, or unauthorized ACH debits. Positive Pay helps your organization:
- Reduce the risk of financial loss by identifying suspicious transactions before funds leave your account
- Maintain greater control over outgoing payments
- Strengthen internal controls and cash management processes
- Respond quickly to potential fraud with clear, timely decision-making
With Positive Pay in place, your organization can review exceptions promptly and take action before potential losses occur.
Get Started with Positive Pay
If you’re interested in adding Positive Pay to your organization’s checking account our local SBW Business Banking team is here to help. Visit any of our 7 branches in the Monadnock Region, or contact us to learn more.