What is Positive Pay?
Positive Pay is a fraud-prevention system to help your business against forged, altered, counterfeit checks, and fraudulent ACH debits.
Understanding Positive Pay
To protect against forged, altered, and counterfeit checks, the system will match the check number, dollar amount, and account number of each item presented against a list provided by the business. The business will upload a list of all approved checks to the Woodford State Bank Online website. Any checks that do not match the uploaded check file will be flagged for the customer's review. The customer will then have the option to return or pay the flagged check the same day as received.
How much does it cost?
Woodford State Bank offers Positive Pay to all Business Online Banking customers at no additional cost.
How do I enroll in Positive Pay?
For more information or to enroll for Positive Pay, contact one of our Personal Bankers.