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Account AccessPROTECT YOUR BUSINESS WITH POSITIVE PAY
At Bank First, we've got your back when it comes to keeping your money safe and sound. Our Positive Pay services saved businesses over $4 million in 2024, proving to be an essential tool in preventing fraud and reducing financial loss.
With our Check and ACH Positive Pay services, you provide final approval to ensure only genuine and authorized checks or ACH transactions are posted to your account.
And here's the good news, Positive Pay services are complimentary for select Bank First accounts: Small Business 100, Basic Business 300, and Non-profit accounts. It's our way of reinforcing our commitment to your financial security. Your peace of mind is our priority!
How Check Positive Pay works:
As your company issues checks, certain information (check number, dollar amount, and payee) is electronically transmitted to Bank First.
When your checks are presented for payment, we compare this information to ensure it matches the check number, dollar amount, and payee.
If the details of the presented check match the information in the check issuance file, the check is considered legitimate, and the payment is processed as usual.
If there is any discrepancy between the presented check and the information in the check issuance file, we will flag the check as an "exception" and alert authorized individuals at your company for further review and a decision.
How ACH Positive Pay works:
Your company provides Bank First with a list of pre-approved ACH transactions that are expected to post to your account. The transactions can include details such as the amount, originator name, and other relevant information.
When incoming ACH transactions are presented for processing, we compare the transactions against the list provided by your company. Only pre-authorized ACH transfers you permit will post to your account.
If an incoming ACH transaction does not match your authorized transaction list, we will notify you of any attempted unauthorized transactions. You then have the option to allow the ACH to post or return the item within the 24-hour time limit to the originating bank. This is called an exception.
How Reverse Positive Pay works:
Reverse Positive Pay is a simplified version of our ACH and Check Positive Pay services. There is no need to issue a check file or establish a pre-authorized list.
We will alert you whenever a check or ACH debit is presented to your account.
When you access Business Online Banking, you’ll be able to view the check image or ACH debit and choose to approve or reject these transactions.
View our demo to see Positive Pay in action!
In addition to Check and ACH Positive Pay services, Bank First provides an array of tools to help businesses protect themselves from fraud and unauthorized transactions! Explore our enhanced security measures and how they can add additional layers of security to your business banking accounts.