Frequently Asked Questions
Positive Pay is a fraud prevention tool specifically for our business customers that allows you to proactively be in control to view your checks and ACH transactions almost in real-time. It positions you to keep your business’s money safe by allowing you to reject any transactions that are potentially fraudulent, counterfeit, or unauthorized.
Positive Pay is available to all business banking customers. You can manage the service directly through Business Online Banking using the same website, username, and password you already use.
Businesses may also authorize multiple users to access Positive Pay. Each designated user must have Business Online Banking credentials.
If you or anyone on your team does not yet have Business Online Banking access, simply complete the Business Online Banking Enrollment Form and contact a banker. They’ll help you get set up for free.
There are a few very easy steps to follow to be able to monitor your checks and ACH transactions. You will input details from issued checks or expected ACH transactions into Positive Pay. It’s as easy as filling in blanks to indicate things like check number, payee, date, and dollar amount.
The Positive Pay system will compare items coming in, to the items you have logged. If there is not an exact match, or the system can’t determine whether it’s an exact match, it will bring that to your attention. Then you can review the item, and you get the power to decide if you would like that item to pay or return.
Note: Items not reviewed by the deadline will automatically pay.
It only takes one fraudulent transaction to result in a devastating financial loss for your business. For this reason, we recommend all of our business customers enroll in Positive Pay. While we do encourage you to login to check Positive Pay every day, there is an option for the system to set up alerts via email or text if there are items to review. This can reduce your time commitment if you don’t write a lot of checks or have a lot of ACH transactions.
There is NO COST to enroll in Positive Pay. River Bank is proud to offer this service completely free, with no limits on the number of accounts you can protect.
For comparison, many financial institutions charge between $12.95 and $75 per account per month for similar fraud-prevention tools.
Providing this service at no charge reflects our commitment to keeping your business secure and giving you peace of mind.
