Fraud Management
Combat fraud and protect your business. Our payment and fraud mitigation tools are designed to make it easier for you to monitor your payments so you can stay a step ahead of threats to your business's finances.
Tools Designed for Your Protection
Fight fraud and protect your business from financial loss by safeguarding your transactions. Take complete control of your disbursement activity to virtually eliminate fraud before it happens with this added layer of protection. This tool will protect against forged, altered, and counterfeit checks. Positive pay matches check and ACH presentments against a list provided by the company. You can upload a list of checks via our online system and/or you can input items manually. When the information you have uploaded/input does not match the check being presented, we notify you through an exception report, withholding payment until you advise us to accept or reject the check.
POSITIVE PAY
Check Positive Pay
Compare checks presented for payment against the checks you say you have issued. Check number, account number, and dollar amounts are verified, and any discrepancies are flagged for review to either approve or decline.
Payee Verification
In addition to Check Positive Pay, Payee Verification matches the receiving payee name to the payee name on your check issue file to provide ease in your reconciliation process.
Reverse Positive Pay
Reverse Positive Pay works exactly like check positive pay except you do not upload or input any check information. With Reverse Positive Pay, “ALL” checks will be presented to you to review, approve, and/or decline.
ACH Positive Pay
With ACH Positive Pay, there is no list to upload. The system allows you to review incoming ACH debits and approve or decline accordingly. To increase efficiency, you can set automated rules within the system for specific approved ACH transactions. Rules can be set up by company ID and/or amount.
ACH Blocking
With ACH blocking, you can block "ALL" ACH transactions from processing against your account. With ACH Blocking you will not be presented with exception items to decision. Transactions will be automatically blocked and returned to the originator.
Businesses Share Liability for Check Fraud
Since 2016, the liability for check fraud has shifted away from the bank to the check issuer. Under UCC Section 4-406 and 3-406 as well as the banks electronic funds transfer agreements, If clients fail to use appropriate diligence, use ordinary care or reject the use of “commercially reasonable security procedures” such as Positive Pay, they can become liable for unauthorized check and ACH transactions. Texas Security Bank provides a robust Positive Pay system to help limit and/or eliminate this liability.