Welcome to Covenant Bank

Positive Pay


ADVANCED FRAUD DETECTION PROTECTS BUSINESS ASSETS

HOW IT WORKS

Simply download check data (check issue file) into Covenant Bank's Online Banking, and Positive Pay will automatically match check number and dollar amount of each check submitted for payment against information previously authorized by your company's check- issue file. When a check is presented and does not have a "match" in your check-issue file, it becomes an "exception item" and you are then immediately contacted. After you review exception items, simply indicate through online banking to either pay or return the check for ultimate control over your company's check disbursement activity.

VIOLATIONS WILL OCCUR IF:

  • The check has not been issued
  • A check stop payment has been placed n The check has already been paid
  • The check amount does not match
  • The check is stale dated
  • The check has been voided


PROVEN BENEFITS INCLUDE:

  • Increased security against fraudulent check activity
  • Improved audit control

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