Check fraud is a big problem, and it’s only getting worse. At First Community Bank, we know that protecting your business is important to you. It’s also important to us. First Community Bank offers Positive Pay* as a cash management tool for business owners looking to minimize loss due to fraudulent checks written on their business account(s).
So How Does Positive Pay* Work?
Step 1: Uploading Check Information to the Bank
As the business owner, you provide First Community Bank a list of checks written on your business account(s). Simply upload the payee, date, amount, and check number via our online banking application.
Step 2: Payment Information and Presented Check Information Verification
Checks submitted for payment to First Community Bank are then compared to the information you submitted. If there are any discrepancies, that check is returned to you for review. As the business owner, you determine whether to accept that item for payment or to decline payment. The choice is yours.
Positive Pay* can serve as a great tool to help businesses safeguard their financial accounts against check fraud.
*Some restrictions and fees apply.
UNLAWFUL INTERNET GAMBLING ENFORCEMENT ACT OF 2006 This notification is provided pursuant to the Unlawful Internet Gambling Enforcement Act of 2006 (the “Act”) and Regulation GG. The Act prohibits any person engaged in the business of betting or wagering from knowingly accepting payments in connection with the participation of another person in unlawful Internet gambling. Accordingly, these restricted transactions are prohibited from being processed through an account or other relationship with First Community Bank.