What is ach positive pay?

ACH Positive Pay is a fraud prevention measure implemented by banks to protect their corporate customers from unauthorized ACH transactions. It is a service that verifies the details of incoming ACH transactions against a list of pre-approved transactions provided by the customer.

When a transaction is received, the bank compares the transaction details, such as the originator and amount, to the customer’s approved list. If there is a match, the transaction is approved and processed. If it does not match, the bank will provide an alert to the customer who can then decide to approve or reject the transaction.

ACH Positive Pay is useful in preventing ACH fraud, such as ACH debit and credit fraud, which can cost businesses millions of dollars in losses. By implementing ACH Positive Pay, businesses can ensure better protection of their financial assets and avoid potential financial losses due to fraudulent transactions.