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Payment fraud is a growing challenge affecting all organizations. As a Third Party Administrator we include a full range of Protection for our Employer groups and there employees. One being Positive Pay or Payment Fraud Prevention.
How you benefit:
- We Maintain control over check payments and returns.
- This means that every check issued is double checked by are bank for correct check number and amount.
- This Cuts Downs on Fraudulent Checks, and Employer/Employee monies going out the door because of criminals forging checks or changing amounts
- We get checks returned based on excessive dollar amounts or expiration date.
Account Reconciliation - reduce the time and expense associated with reconciling your outstanding or paid checks
Maximum Dollar Amount - return unpaid checks automatically if they exceed a given dollar limit, or make decisions on paying or returning checks
Positive Pay - let us find the payments that do not match your issue file and flag them as exceptions that you can decision online
Reverse Positive Pay - you identify your payment discrepancies and advise us of your return instructions
Stale-Dating - determine the number of days after a check was issued that it may be honored, opt to return expired checks automatically, and make decisions on paying or returning checks
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