Positive Pay
Protect your profits by taking aim at check fraud
Cost-effective theft protection
Check payments reviewed
Suspicious checks flagged
Fast, easy review process
No costly equipment needed
Cost-effective theft protection
Check payments reviewed
Suspicious checks flagged
Fast, easy review process
No costly equipment needed
Positive Pay can be your first line of defense against forgeries, altered dollar figures, and stolen account numbers.
Texas companies of every size leverage our fraud detection tool to significantly decrease the risk of fraudulent checks posting to their First Bank Texas business checking account. Put our protection tool to work for your company. The process is simple, but effective, and gives you complete control over the checks your company issues. When your business sends out payments, you share a list of those payments with us. When someone tries to collect payment on your accounts, we compare it against the list. If something doesn’t match up, you will have full ability to review and decision suspicious items.
Check fraud has been a growing problem for businesses since 2020. Reporting required by the Bank Secrecy Act shows check fraud was up 23% between 2020 and 2021 with 350,000 and then nearly doubled in 2022 to 680,000 cases, according to the Financial Crimes Enforcement Network (FinCEN).
By implementing Positive Pay, you add an invaluable layer of protection. Here’s how it works:
- You upload a file to the Positive Pay system listing your issued checks.
- Checks presented for payment are matched against the uploaded file based on account number, check number and dollar amount, amongst other items.
- When these checks are processed by a different financial institution, all fields must match exactly or the check will be flagged and added to an exception list. If you forget to upload the file before issuing the check, the item will show as an exception to be reviewed.
- First Bank Texas tellers are notified when a presented check does not match the uploaded file and will contact you to verify how you would like to proceed.
- You also can review the exception list through Online Banking or our mobile app to decide if you want to return or pay out the item.
Please keep in mind, Positive Pay is available only for our Business Checking Accounts.
We make it easy to enroll. Speak with one of our bankers and someone from our Positive Pay Team will be in touch with you soon to finalize the setup.
First Bank Texas is a full-service financial institution serving customers in Texas, with locations in Abilene, Baird, Bedford, Clyde, Grapevine, Haskell, Hudson Oaks, Munday, Stamford, Weatherford, and Willow Park.
