Positive Pay
Our check and/or ACH activity monitoring tool, also known as Positive Pay, provides an effective and practical business solution that helps you guard against check and/or ACH fraud. This service delivers protection on a daily basis against losses due to fraudulent payments and the presentation of unauthorized items to MidWestOne Bank.
Benefits
- Detects suspicious activity
- Reduces risk of financial loss
- Safeguards your company’s reputation
- Reinforces your audit trail
- Simplifies account reconciliation
Types of services
- Check - You submit a file daily telling us which checks have been issued.
- ACH – You provide guidelines for monitoring ACH activity to us. Any transactions that do not meet those guidelines require your approval before being posted to your account.
- Reverse – You manually monitor check activity and notify the bank when a check should be returned