Positive Pay

Positive Pay is one of the most effective check fraud prevention programs available. This service is the process through which your company and Community Bank & Trust work together to detect fraudulent activity by identifying items presented for payment that your company did not issue.

Positive Pay is a highly effective defense against check fraud. If your company writes a large number of checks each month and/or is concerned about check fraud, Positive Pay is your solution.

Benefits

  • Effective - Sophisticated defense against check frauds and losses
  • Secure - Provides multiple layers of security
  • Efficient - Errors are detected prior to month-end, which will improve your account reconciliation process

How It Works

  1. Your company sends Community Bank & Trust an electronic check issue file (specified format) that includes all of the checks written against your account, daily, by 3pm.
  2. Community Bank & Trust compares the file of checks presented to the check issue file.
  3. Exceptions are identified and communicated to you by 9am each business day.
  4. Approved exception items are paid and unapproved items are returned.

Account Reconciliation

Utilize Community Bank & Trust's automated Account Reconciliation service to help balance your corporate account(s) on a daily, weekly or monthly basis, depending on your individual business needs.

Choose between two types of reconciliation products

  1. Partial Reconciliation is a check paid service, providing you a detailed list of all your checks paid during a specified reconciliation period. The listing includes information such as the check number, amount and date paid and is sent to you via an electronic transmission or paper copy. This product best suits customers not utilizing the Positive Pay service and/or not need any outstanding issue reports.
  2. Full Reconciliation works in conjunction with Positive Pay. It compares information captured daily and produces a month-end outstanding issues report, checks paid report, detailed listing of all checks paid and a separate listing of outstanding issues. A total item count and dollar amount is also provided via an electronic transmission or paper copy.

Benefits

  • Reduces clerical staff time by saving time and money
  • Allows flexibility through a variety of automated reports
  • Reconciles checks accurately and timely
  • Improves audit control by tracking, documenting and verifying disbursements