Hyperion Bank Positive Pay

PRO-TECH ACH Positive Pay

Our ACH debit filter helps protect your funds, allowing only ACH transactions from the parties you authorize to debit your bank account.

Features of our ACH Positive Pay

• Enables you to add Vendors to an approved list as they clear or in advance.
• Setup dollar limits, frequency and end dates by Vendor.
• Receive customizable alerts via text or email when ACH Debits and Credits arrive.
• Enables you to Block specific Vendors by Company ID in advance or when they attempt to debit or credit your account.
• Complete a pre-populated electronic Written Statement of Unauthorized Debit (WSUD) during return process if applicable.
• Create notification rules to determine who receives alerts and the conditions that trigger ACH positive pay alerts.

PRO-CHEX Check Positive Pay

Protect yourself against fraudulent checks:

Positive Pay saves you the hassle that arises when forged or altered checks clear your bank account. PRO-CHEX makes it easy to protect your account against check fraud. No matter how big or small your business, if you use checks, you’ll benefit from the security of Positive Pay.

Benefits & features of Positive Pay 

• Choose from standard, reverse, and payee options.
• Direct data upload to Positive Pay system
• Check information can also be key- entered for manual updating.
• Supports issue file mapping templates so you can provide issue information in a format that works for you.
• Default pay/return settings ensure instructions are systematically carried out.
• Return, pay, or pay-and-adjust transactions when alerted for exceptions.
• Check information is also available to Tellers.
• Notification of unauthorized items.
• Review items and approve payment or return through Online Banking.
• View check images from your desktop.

Types of Check Fraud that Positive Pay Prevents

If your business hasn’t been a victim of check fraud yet, it still can be. Check fraud is a costly problem for businesses. According to the 2019 AFP Payments Fraud & Control Survey, 70% of organizations have been exposed to check fraud. Common types of check fraud:

• Counterfeit checks
• Altered Checks
• Forged signature
• Stolen blank checks

How Positive Pay Works

Upload a file with information on checks you issue and Positive Pay ensures the checks paid on your account match. This procedure prevents outside unauthorized checks from being processed. You are notified of check discrepancies and can determine whether to pay or return them.

Reverse Positive Pay

Protection from suspicious check activity:

Reverse Positive Pay is a fraud management tool that simplifies account reconciliation activity related to checks presented for payment.

How it Works:

• Customizable Alerts for Notification.
• You'll need to review all presented checks from the previous day's activity, determining if they should be returned as fraudulent.
• Item amount exception can be used to designate a dollar amount that will trigger an exception on a reverse positive pay account.

The difference between Reverse Positive Pay & Standard Positive Pay

Reverse Positive Pay:

Typically well-suited for small business customers who issue fewer checks, or large business who may want to use it for a less active account without the ability to submit check issue files to the bank. Receive an alert to notify daily if checks are being presented. Simply review images of all checks that are presented to your account the previous banking day online and return any payments that appear fraudulent.

Standard Positive Pay:

Suitable for businesses of all sizes and provides fraud detection for checks presented matching payee, check number, issue date and amount. This service requires you to send an electronic file of checks issued to the bank.