Posted By: Soccer
Positive Pay - 03/12/21 04:07 PM
I'm looking for anyone that has experience with this and how you handle those that turn down the service. Do you require them to sign an acknowledgement stating they will be responsible for all fraudulent transactions that pass through their business account should they decline?
We are seeing a large uptick in fraud and Management would like to institute this process. I worry because it is a paid service that if a depositor declines will be criticized for not treating all accounts in the same manner.
Additionally, has your bank found a way other than positive pay to help limit business transaction losses?
We are seeing a large uptick in fraud and Management would like to institute this process. I worry because it is a paid service that if a depositor declines will be criticized for not treating all accounts in the same manner.
Additionally, has your bank found a way other than positive pay to help limit business transaction losses?