Main Street Bank's Positive Pay program is a proactive approach to combating check and Automated Clearing House (ACH) fraud. This early warning fraud detection system arms your business with the information needed to stop check and ACH fraud before it creates a loss.
Get the right coverage for your business.
Choose both Check Positive Pay and ACH Positive Pay for the most protection.
Check Positive Pay
Check Positive Pay protects your business and helps to reduce the risk of check fraud.
How it Works
Customers can choose to either upload their check files to our Business Online Banking platform, or to manually input checks as they are issued, prior to releasing the checks. As checks are processed for payment, Positive Pay verifies the check number, amount, payee name, and date of each check. If the system detects incorrect information an exception is triggered, requiring approval or denial for the item in question.
ACH Positive Pay
ACH Positive Pay protects your business from potential unauthorized electronic payments and helps to reduce the risk of electronic fraud.
How it Works
Provides your business with the ability to allow only specific companies access to electronically debit your account.
The customer supplies information for the companies
they authorize to debit from their account. Other companies are blocked from electronically withdrawing funds from the account, requiring an approval or denial.
Optional filters also allow the customer to specify maximum dollar amounts they authorize to be debited from their accounts for specific vendors.
If an item is presented from a company that is not authorized to debit the account, an exception, requiring an approval or denial, is triggered.
Important note: The customer must log on to online banking to decision(approve/deny) any exception items prior to the 11:30AM EST cutoff time. In the event that the customers does not decision their exceptions within the timeframe, the default decision of “return” will apply.
Protect your business.
From high-tech counterfeit checks to simple forgeries, business checking accounts are targets for fraudsters. With millions of checks in circulation each day, no one can afford to ignore the fact that some checks are fraudulently drawn on business accounts. Unfortunately, fraud is usually undetected until the after the check is paid.
Positive Pay allows you to electronically share your check register for all issued checks with Main Street Bank. We will only pay the checks listed on the register –with the precise specifications of each check – Verifying amount, check number, payee name, and issue date.
Benefits of Positive Pay
Here are the top reasons you should consider Positive Pay:
Reduces Fraud
We only process what you tell us to. Check and/or ACH payments are posted to your account and reviewed against Positive Pay during nightly processing. If the transaction does not match your Positive Pay specification, then they will create an exception for you to decision the following day, before final processing.
Deters criminals from targeting your business, contributing to your overall security.
Saves Time
Reduces the time associated with manual check and ACH fraud prevention measures.
Aids in your inspection and review of checks and ACH transactions for potential fraud issues.
Puts You in Control
Gain precise control over your cash flow.
Issue checks and approve Positive Pay exception items securely through personal computer and/or mobile device access.
Testimonials
“I wanted to email you and thank you and Main Street Bank for introducing me to “positive pay.” This program has saved me and Ricciardi Bros Inc tens of thousands of dollars. The program works great. I would highly recommend this program to all your customers. It’s safe, fast and very efficient. Thank you again for introducing this program to me.”
⭐⭐⭐⭐⭐
– Jimmy R.
“I would love to speak on Main Street Bank’s Positive pay system and if anyone ever has any doubts about it I would happily be a reference. Main Street Bank’s Positive Pay system has not only saved our Company once but twice. The first check caught was for $40,000.00 and I could not have been more worried when I saw it. I called the Cash Management department at Main Street Bank right away and it was like it never happened. The check payment got returned to our checking account and it was literally like nothing ever happened. The second time, a check was stolen from our mailbox and it went the same way. A quick call to the Cash Management department and again it was like nothing happened. As the CFO of a small family-owned operation, I am grateful to know my family’s life savings that are invested in this company are protected by a simple but effective safeguard at Main Street Bank.”
⭐⭐⭐⭐⭐
– Andrew A.
Meet your Cash Management Team
Jennifer Berube
Senior Vice President Cash Management Officer
As Senior Vice President Cash Management Officer, Jennifer offers products and services to business clients which are designed to improve internal processes as well as create efficiencies. She helps to solidify customer retention efforts by providing a superior level of customer service.
Jennifer is closely tied to Main Street Bank’s Cannabanking business program, playing a significant role in the onboarding of new cannabis business customers to Main Street Bank, supporting them through the process of setting up banking services, and maintaining their business accounts.
Jennifer has worked in the banking industry since 1994, with experience in Retail Banking, Retail Operations, Branch Administration, Wealth Management and Commercial Cash Management.
Get Started with Positive Pay
Contact our Cash Management team directly by completing the form below.