POSITIVE PAY

Protecting Your Business from Financial Fraud

BCT offers two types of Positive Pay fraud protection, Check Positive Pay and ACH Positive Pay.  Each service gives you decision-making authority on what payments and debits to receive or reject.   Learn more about each below.

office-female-white-computer_Resized_iStock-1806299740ACH Positive Pay

ACH Positive Pay is a fraud prevention service offered to businesses to prevent unauthorized  Automated Clearing House (ACH) debits from posting to your BCT account.2  "ACH" is a network that facilitates electronic transactions, including direct deposits and direct payments. 

ACH Positive Pay is available only with Business Online Banking and is part of Cash Management services.  It is available for use with your BCT business checking and money market accounts.  A separate agreement is required and will be provided by Cash Management.  

How Does It Work?

  1. ACH RULES - Your business establishes its rules for authorized ACH transactions at the account level (debits, credits, debits and credits, block all).
  2. TRANSACTION MATCHING -  When ACH transactions are received, the bank compares the details of incoming transactions against the clients ACH rules.
  3. EXCEPTION REPORTING - Any ACH transaction that exceeds our client's ACH rules list is flagged as an exception. The bank generates a report of these exceptions.
  4. DECISION AND VERIFICATION - The business is notified of the exceptions and is given the opportunity to review and approve or reject the transactions. This step allows for verification and prevents unauthorized transactions from being processed. If the client doesn’t decision an item by the 10:00 am cut-off time, those transactions will be returned.

  5. BLOCKING UNAUTHORIZED TRANSACTIONS - If the business identifies any unauthorized or suspicious transactions, we will return those transactions and not post them to the client’s account. 

Features and Benefits

  • Multiple company TINs can be included with your ACH Positive Pay service, providing protection among all of your business' checking and money market accounts.
  • Multiple users and levels of access can be granted to your employees, from full access, account-specific access, and view only.
  • Customized rules can be applied so each account can have different thresholds for Pay and Return. 
  • Cut-off Time is 10:00 a.m. Eastern.  All decisioning must be completed by the cut-off time or items will be returned for the  protection of your business.  BCT will not make decisions on behalf of your business.
  • Quickly review all previously decisioned items (pay or return) for 30, 60, 90, 180 days or a custom date range.

ACH Positive Pay is one more tool BCT provides businesses to help you prevent fraud and protect your hard-earned revenue. 

REGISTER TODAY!

To register, contact our Cash Management team today. 

Email:  CMSupport@mybct.bank

Phone:  304-728-2409

 

2 Fees apply for ACH Positive Pay.  Discount available when bundling Check Positive Pay and ACH Positive Pay.

 

Check-person-shutterstock_reducedCHECK Positive Pay

Check Positive Pay is a fraud prevention tool that enables BCT business clients to verify checks they have written are accurate and valid.1   This service is available for your BCT business checking and money market accounts and requires Business Online Banking and Cash Management Services.

How Does It Work?

  1. UPLOAD YOUR CHECKS - As a BCT Business client and user of Check Positive Pay, you upload checks you have written to our secure Positive Pay portal. 
  2. CHECK MATCHING - BCT compares your uploaded checks and preset parameters against checks submitted for payment. 
  3. EXCEPTION REPORTING - Any checks that do not match are flagged as exceptions.
  4. DECISIONING - The business is notified of exceptions and is given the opportunity to review and approve or reject the submitted check. This step allows for verification by our business client and prevents fraudulent checks from being paid. 

Features and Benefits

  • Multiple company TINs can be included with your CHECK Positive Pay service, providing protection among all of your business' checking and money market accounts.
  • Multiple users and levels of access can be granted to your employees, from full access, account-specific access, and view only.
  • Cut-off Time is 10:00 a.m. Eastern.  All decisioning must be completed by the cut-off time or items will be returned for the  protection of your business.  BCT will not make decisions on behalf of your business.
  • Quickly review all preoviously decisioned items (pay or return) for 30, 60, 90, 180 days or a custom date range. 

Check Positive Pay is one more tool BCT provides businesses to help you prevent fraud and protect your hard-earned revenue. 

REGISTER TODAY!

To register, contact our Cash Management team today. 

Email:  CMSupport@mybct.bank

Phone:  304-728-2409

1 Fees apply for Check Positive Pay.  Discount available when bundling Check Positive Pay and ACH Positive Pay.