Positive Pay for Electronic Transactions
Much like our process for checks, we conduct a review of the electronic transactions posting to your account each day and provide you a list of any item originated by an unapproved source. These items will be held in suspense until you review and approve the transaction.
Often accounts are used for a specific purpose, not including the issuing of checks. In these cases, Seacoast can establish various codes to eliminate the posting of certain transactions to accounts within your structure, ensuring unauthorized debits will not post to the account.
Positive Pay for Checks
With disbursement losses from fraud rising each year, Seacoast's Positive Pay service can help you detect and protect your business' checking accounts from unauthorized withdrawals. We will verify items by dollar amount, check number and even the Payee's name and you can make pay or no-pay decisions via our Business Online Banking Solution.