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Positive Check Pay

Fight check fraud with Positive Pay from Century Bank

Check fraud costs U.S. businesses and consumers millions of dollars each year. In fact, one million fraudulent checks are presented for payment every day. Century Bank's Positive Pay is a simple solution that helps your business identify fraudulent checks within your accounts by verifying each check's authenticity, while also making the valid check information available to our tellers.

Positive Pay helps fight the “would be” counterfeiters by quickly identifying suspect items. It is an important weapon that you can use to combat check fraud. It provides an early detection system that’s easy for businesses to manage. The benefits are many:

• Save Money - By identifying and returning altered or forged checks you can save money that would otherwise be lost through potential losses and legal fees.
• Convenience - You can transmit your check issue file at a time that is convenient for you.
• Timely Returns - Century Bank's Positive Pay enables you to return suspected fraudulent items immediately.
• Control - You will be able to maintain stricter control over your disbursements by utilizing Positive Pay.
• Reconciliation - Century Bank reconciles your account daily, significantly reducing time and costs associated with month-end processing.

Positive Pay is easily accessed through www.centurybankfl.com.The process is incredibly simple and effective. Whenever your business prints checks, you send an “issue file” to Century Bank. We match the consolidated list of legitimate checks against all checks presented for payment. Suspicious or mismatched checks are automatically flagged and held for further instruction from you. All "suspect items" are listed on a daily exception report that is available online for your review. You scrutinize the suspicious checks, instruct Century Bank to pay or not pay specific checks and submit those decisions to us. We immediately return all appropriate checks. Positive Pay is an automated check-matching service and an excellent defense against check forgers. It should be an integral part of every fraud prevention plan. For additional information please contact a Business Account Manager by calling 941.366.1050 or toll free 1.800.344.6889, or email us at businessbanking@centurybankfl.com.