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Positive Pay

Checking accounts, expect more from ConnectOne Bank

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Business
Business
Payments
Payments
Positive Pay
Positive Pay

Use technology to fight fraud

Fraud remains a big challenge for businesses who process both electronic payments and paper checks. Some thieves cash fraudulent checks using stolen account numbers, while others alter dollar amounts on otherwise legitimate checks.

Positive Pay* is an automated detection tool that protects your business against altered, forged, and counterfeit checks and electronic payments (ACHs). The system compares inclearing transactions against what has been entered as "authorized" when a check is presented or "allowed" in the case of an ACH.

How Positive Works:

Submit Details

Within Business Online Banking, you set the parameters on which items are approved for payment.

- For ACHs, establish rules to allow transactions within certain parameters and from authorized originators
- For checks, the system will cross-reference payee names from the file you import

Verification

If an ACH debit from a non-approved originator is presented and does not match your rules, you will be able to review it and approve or return the transaction.

Any discrepancies for checks will generate as an exception for you to review and pay or return.

You can review ACHs and/or checks awaiting approval and decision them in Business Online Banking or right from our Business mobile app! We'll hold the item until the system cutoff time that same business day.

Don't Forget to Review Your Exceptions

Set up alerts to receive an email and/or text message to notify you when an item needs your review so you never miss a payment.

You can manage your alerts in Business Online Banking.

*All businesses must enroll in Positive Pay when opening any business checking and/or business money market checking account. Positive Pay is a service enabled in Business Online Banking that can prevent check and ACH fraud on your account. The monthly fee for Positive Pay is $25 per account. Once your account is successfully opened, a ConnectOne Bank representative will contact you to set up Positive Pay for your account. You may elect not to enroll in Positive Pay, and will be required to sign a Positive Pay Opt-Out Agreement.

Ready to enroll in Positive Pay?

Fill out the form below and your dedicated banker will be in touch to finish the process.

Interested in

Positive Pay?

Send us a message by completing the form or email us at support@cnob.com

Please do not include any sensitive information such as account or social security numbers.

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