What is Positive Pay?
Rondout Savings Bank’s Postive Pay tool detects and prevents fraudulent check transactions.
- How does it work?
Submit your check register through Rondout Savings Bank’s online banking. Positive Pay matches the account number, check number and dollar amount to each check that is presented for payment.
Each day, checks will be marked as an “Exception Item” if the check:
- Is not listed in the check register that was submitted.
- Is a duplicate of a previously paid item
- The check is listed as Voided within the check register
- Has a different dollar amount than what is listed in the check register
- Does not have a check number or does not match what is listed in the check register.
Checks that are listed as an “Exception Item” can be viewed by the business to determine if the check is fraudulent. After viewing the check, the business can decide to pay or return the item.
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Rondout Savings Bank’s Positive Pay tool is convenient, allows more control over your account, and reduces fraud.
For over 150 years Rondout Savings Bank has been giving back to the community. With our “Dividends to the Community Program” we donate 10% of our earnings each year back into the communities we serve.
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