Q. Am I required to enroll my business accounts in Positive Pay?
A. KS StateBank highly recommends Positive Pay – our free automated fraud protection tool – to help you manage items clearing your accounts. If you choose to opt out of Positive Pay, we suggest enabling Account/Event alerts through Online Banking to assist you with daily monitoring of items clearing your account(s).
A. KS StateBank highly recommends Positive Pay – our free automated fraud protection tool – to help you manage items clearing your accounts. If you choose to opt out of Positive Pay, we suggest enabling Account/Event alerts through Online Banking to assist you with daily monitoring of items clearing your account(s).
Q. Can I enroll some of my accounts for Positive Pay, but not others?
A. Yes; you can select which accounts you opt in for Positive Pay. However, it is an easy tool to manage. You may find that you like the ease of use and consistency of enrolling all of your accounts in the fraud detection tool. For accounts with minimal activity, there will be very little to manage and Positive Pay will benefit you while working "behind the scene." For accounts that you choose to opt out of Positive Pay, a Liability Waiver will need to be signed.
A. Yes; you can select which accounts you opt in for Positive Pay. However, it is an easy tool to manage. You may find that you like the ease of use and consistency of enrolling all of your accounts in the fraud detection tool. For accounts with minimal activity, there will be very little to manage and Positive Pay will benefit you while working "behind the scene." For accounts that you choose to opt out of Positive Pay, a Liability Waiver will need to be signed.
Q. If I enroll in Positive Pay, what work is involved for me?
A. We will work with you to make the process as simple as possible. Check items issued from your account will need to be uploaded into the Positive Pay system through Online Banking. A representative from our Cash Management team will help you establish your approved users and also train you on the process. In addition, we will collect a list of approved ACH vendors who are authorized to credit and debit your account(s). If an item attempts to clear your account (by check or ACH), the transaction information will be verified against the default parameters that were set up for you. You will be notified of any items that may be exceptions to these parameters and will need to review the items in a reasonable time frame.
A. We will work with you to make the process as simple as possible. Check items issued from your account will need to be uploaded into the Positive Pay system through Online Banking. A representative from our Cash Management team will help you establish your approved users and also train you on the process. In addition, we will collect a list of approved ACH vendors who are authorized to credit and debit your account(s). If an item attempts to clear your account (by check or ACH), the transaction information will be verified against the default parameters that were set up for you. You will be notified of any items that may be exceptions to these parameters and will need to review the items in a reasonable time frame.
Q. Can I enable check protection only and not ACH (or vice versa)?
A. Positive Pay is a full service protection tool that encompasses both checks issued and ACH items clearing your account. Our team will help establish these parameters to provide the best protection.
A. Positive Pay is a full service protection tool that encompasses both checks issued and ACH items clearing your account. Our team will help establish these parameters to provide the best protection.
Q. Can multiple users manage Positive Pay?
A. Absolutely. We recommend having two or more individuals with access to manage Positive Pay for your account(s).
A. Absolutely. We recommend having two or more individuals with access to manage Positive Pay for your account(s).
Q. Does a user have to have access to the account to manage Positive Pay?
A. Yes; for a user to manage Positive Pay for an account, that user will also have access to the account transactions in Online Banking.
A. Yes; for a user to manage Positive Pay for an account, that user will also have access to the account transactions in Online Banking.
Q. I don’t write checks out of my account. Do I need Positive Pay?
A. Yes; Positive Pay is still a good idea and would be beneficial. While you don’t write checks, Positive Pay also monitors for electronic ACH payments. Also, since you don’t write checks off the account, then you would want to be notified that a check was clearing since that is not typical activity. You don’t need to upload a file or manually enter checks issued since there are no checks written, but you’ll still be notified if an item tries to clear the account. Since the item would be flagged, you can return the check and notify the bank of a fraudulent item.
A. Yes; Positive Pay is still a good idea and would be beneficial. While you don’t write checks, Positive Pay also monitors for electronic ACH payments. Also, since you don’t write checks off the account, then you would want to be notified that a check was clearing since that is not typical activity. You don’t need to upload a file or manually enter checks issued since there are no checks written, but you’ll still be notified if an item tries to clear the account. Since the item would be flagged, you can return the check and notify the bank of a fraudulent item.
Q. Are transfers considered ACH transactions?
A. No; internal transfers, automatic funds transfers, or transfers done through Online Banking are not considered electronic items.
A. No; internal transfers, automatic funds transfers, or transfers done through Online Banking are not considered electronic items.
Q. Can Positive Pay be managed through the KS StateBank Mobile Banking app?
A. No; Positive Pay is a service managed in Online Banking through a browser on your computer or phone.
A. No; Positive Pay is a service managed in Online Banking through a browser on your computer or phone.
Q. What if I forget to upload a check into the system?
A. If an exception item attempts to clear your account, a notification will be sent to you via email and/or text. This notification will prompt you to log into Online Banking to review and work the item.
A. If an exception item attempts to clear your account, a notification will be sent to you via email and/or text. This notification will prompt you to log into Online Banking to review and work the item.
Q. I’m already tracking my issued checks in another system. Is there an easy way to upload this information into Positive Pay?
A. Yes; you can simply export the check data from your current software to upload into Positive Pay via Online Banking.
A. Yes; you can simply export the check data from your current software to upload into Positive Pay via Online Banking.
Q. How can I see what items I’ve uploaded into the system or have cleared my account?
A. With our custom reporting, you can easily pull reports to view items clearing your accounts, exceptions you’ve incurred, or items still out for payment. These reports can be saved for your convenience and easy reference.
A. With our custom reporting, you can easily pull reports to view items clearing your accounts, exceptions you’ve incurred, or items still out for payment. These reports can be saved for your convenience and easy reference.
Q. If I issue checks from KS StateBank’s Bill Payment system, does it still work with Positive Pay?
A. Any check issued through our bill payment system, via Online Banking, is automatically incorporated into Positive Pay as issued items and there is no additional work effort for you.
A. Any check issued through our bill payment system, via Online Banking, is automatically incorporated into Positive Pay as issued items and there is no additional work effort for you.
Q. If I opt out of Positive Pay, what is the time frame in which I’d need to notify the bank of a fraudulent item?
A. KS StateBank needs to be notified within 24 hours of the item posting to your account.
A. KS StateBank needs to be notified within 24 hours of the item posting to your account.
Q. I’m not ready to set up Positive Pay at this time. Can I enable the services at a later date?
A. Yes; you can notify the KS StateBank Cash Management team when you are ready to set up Positive Pay. Until then, you will need to sign the Liability Waiver.
A. Yes; you can notify the KS StateBank Cash Management team when you are ready to set up Positive Pay. Until then, you will need to sign the Liability Waiver.
Q. Is there a cost for Positive Pay services?
A. No; KS StateBank offers this fraud detection tool to business clients at no charge.
A. No; KS StateBank offers this fraud detection tool to business clients at no charge.
Q. How long does it take to set up Positive Pay? What is my next step if I opt in?
A. Our Cash Management team will work with you directly to establish permissions and parameters to protect the account. We will work with your timeline to properly set up and train you and any approved users on the steps to help protect your account(s).
A. Our Cash Management team will work with you directly to establish permissions and parameters to protect the account. We will work with your timeline to properly set up and train you and any approved users on the steps to help protect your account(s).