As financial fraud becomes more complex and more frequent, businesses can no longer afford to take a reactive approach to account security. Whether it’s a counterfeit check, an altered amount, or an unauthorized ACH debit, one fraudulent transaction can lead to significant financial losses – and potentially damage your reputation.

That’s why Minster Bank offers Positive Pay, a proactive, technology-driven solution designed to help business owners detect and stop suspicious activity before it affects their bottom line.

What is Positive Pay?

Positive Pay is a fraud prevention service that protects your business account by verifying outgoing checks and electronic (ACH) payments. It compares the details of each transaction against a list of items you’ve approved in advance. If a payment doesn’t match the records you’ve provided, it’s flagged for your review – giving you the final say on whether it clears your account.

How it Works

1. Upload Issued Payments: You start by submitting a list of checks and/or authorized ACH transactions via Minster Bank’s secure online banking platform. For checks, this includes the check number, issue date, dollar amount, and payee.
2. Bank Matches Transactions Automatically: As items are presented for payment, Minster Bank’s system compares each one to your submitted data.
3. Exceptions are Flagged: If a transaction doesn’t match, it’s flagged and sent to you for review through the bank’s online portal.
4. You Make the Call: You review and decide whether to approve or reject the exception – stopping unauthorized payments before funds leave your account.

Why Your Business Needs Positive Pay

No matter the size or industry, every business is at risk for fraud. Positive Pay helps reduce that risk with a low-maintenance, high-impact solution. Here’s what it can do for you:

• Prevent Check Fraud: Check fraud remains one of the most common – and costly – types of financial crime. Positive Pay catches counterfeit or altered checks early by ensuring only checks you’ve authorized are paid.
• Control ACH Debits: With ACH Positive Pay, you can establish rules for incoming ACH debits, such as approved vendors or transaction limits. Unauthorized debits are blocked or flagged, so you stay in control of who accesses your account.
• Reduce Human Error: Mistakes happen – especially with manual reconciliation. Positive Pay automates this process, helping to catch issues that might otherwise slip through.
• Save Time and Resources: Rather then spending hours monitoring transactions or responding to fraud after the fact, your team can focus on what matters most – running the business.
• Strengthen Financial Oversight: Positive Pay adds an extra layer of control and visibility to your financial processes. You’ll always know what’s happening with your money – and have the tools to act quickly if something seems off.

Real Protection for Real-World Risk

Fraud attempts don’t just affect large corporations – they target local businesses, nonprofits, schools, and professional firms too. In many cases, a single fraudulent transaction can lead to serious consequences, especially if not caught in time.

By implementing Positive Pay, you’re not only adding protection, you’re taking an active role in managing your business’s financial health.

Get Started

Minster Bank makes it simple to enroll in Positive Pay. As part of our full suite of cash management solutions, it can be customized to fit your needs and scaled as your business grows. Get started now!