Tools to help you monitor checks and reject unauthorized transactions before losses occur.Contact Us
Fight fraud by safeguarding your transactions
As fraud continues to increase at an alarming rate, it’s more important than ever to prepare your company and safeguard your transactions. In fact, 66% of companies experienced check fraud.*
Cadence Bank is responding to these threats by developing best practices to reduce losses. Our Positive Pay service allows you to monitor checks presented for payment against your account and reject unauthorized transactions before losses occur.
It’s simple: You send us a file of your checks issued each day using our intuitive online service. We’ll maintain your issue data and match checks as they are presented. Checks that are not found in our database will be reported to you as exceptions. Through our simple-to-use online tool you can review images of the exception items and decide whether or not to pay or return them.
Benefits of Positive Pay:
With our Positive Pay services, your company will be able to:
- Enhance Decision Making – Our Commercial Online Banking Portal provides one-stop access to review Positive Pay exception items and their images, allowing quick and easy pay or return decision making.
- Reduce Potential Losses Due to Check Fraud – Positive Pay helps protect against counterfeit or altered checks by providing your company the opportunity to return checks within the required 24-hour timeframe.
- Verify the Payee Name – Sophisticated automation reads payee names from check images and compares to your check issuance file. Payee Name Verification is an added layer of security and detects payee name alterations.
As part of our Positive Pay Service you also will benefit from an added level of fraud protection: Teller Positive Pay. Checks presented over the counter at any Cadence Bank branch are declined if they do not match your check issue file, giving you enhanced fraud protection.
For greater fraud protection, companies should include Positive Pay on all of their accounts regardless of whether or not they issue checks from the account. This helps to protect account balances and line of credit availability.
*According to the 2022 AFP Payments Fraud and Control Survey.