Positive Pay
A bank fraud-prevention service that matches checks presented for payment against a list of checks the business has actually authorized, flagging any mismatch.
Positive pay helps a business catch altered or fraudulent checks before they clear, by comparing check number, amount, and payee against records the business itself submitted to the bank in advance.
While not directly related to financing or underwriting, positive pay is a common part of a business’s overall cash management practices, particularly for businesses that write a meaningful volume of checks.
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