Positive Payee Services
Advancements with personal computer technology make it easier to produce authentic-looking counterfeit checks, altered checks, and electronic fraud, resulting in substantial check fraud losses. With First Interstate's online Positive Payee system, your company can protect its accounts from check fraud. Through a continuously issued check file, we are able to better identify potentially fraudulent checks increasing the chances of early detection and return of unauthorized checks in accordance with federal regulation timelines. Issued check files and exceptions are all handled via secure Internet access.
Speak with one of our experienced business bankers for more information and how to sign up.
Benefits of Positive Payee
- Helps protect your account(s) from check fraud
- Allows the bank to identify potentially fraudulent checks
- Detects and returns unauthorized checks in accordance with federal regulation timelines
- ACH filter notifies you when an electronic debit posts to your account
- Detects stale-dated checks
- Corrects encoding errors, making reconciliation easier
- Issued check files and exceptions are handled via secure Internet access
- Features advanced reporting capabilities that allow you to monitor your outstanding checks, paid items, stop payments, etc. and help streamline your reconcilement process.