Bank of Kansas' Positive Pay Service is a module of DirectBanker. This service is the process through which a company and Bank of Kansas work together to detect check fraud by identifying items presented for payment that a company did not issue.
Case Study
Payroll Success, Inc. is a Bank of Kansas customer that uses Positive Pay to help combat fraud. The company was using Positive Pay when an unknown individual wrote a series of $3,600 and $4,800 checks against the Payroll Success account in an effort to obtain money fraudulently. "These checks were flagged by the Positive Pay system," said Dennis Bishop, vice-president for Payroll Success. "We noticed that they were not checks we had approved for payment, so we were able to click 'Do Not Pay' in the system to keep the checks from being processed. It's a great tool – it works perfectly." Because of Bank of Kansas Positive Pay, Payroll Success did not experience a loss due to this fraudulent activity.
Benefits - Sophisticated defense against check frauds and losses
- Provides multiple layers of security
- Errors are detected prior to month-end, which will improve your account reconciliation process
How it Works - Your company sends Bank of Kansas a check issue file each time you distribute checks
- A simple comma-delimited file or a QIF file format from your accounting software is used
- Bank of Kansas compares the file of checks presented to the check issue file
- If the checks match the data on your issue file, they are paid
- Exceptions are identified and communicated to you via DirectBanker at 8:00 am each business day
- Items are paid unless instructed to "return"
Bank of Kansas' Positive Pay is our solution to provide you with a highly effective defense against check fraud. |
