Check fraud is one of the most serious and pressing issues in the world of payroll. According to a recent study from the AFP, 65% of organizations fell victim to payment fraud attempts in 2022. That’s why Brand’s offers a variety of tools to help keep your payroll safe and secure, including Positive Pay. Positive Pay is a service that helps you protect your payroll checks from unauthorized transactions by:

Detecting Potential Check Fraud: With Positive Pay, Brand’s remains in constant contact with your bank, sending updated master lists of your pre-authorized checks to ensure that only approved checks are cashed. If anything doesn’t match, (for example, the account number, check number, or dollar amount), the bank will not accept the check. This way, you can prevent fraudulent checks from ever being cashed.

Identifying Inconsistencies: Brand’s Positive Pay also helps you catch any errors or discrepancies in your payroll checks before they are posted to your account. For example, if an employee accidentally receives a duplicate check or a check with a wrong amount, Brand’s Positive Pay will flag it and notify you. This way, you can correct the mistake and avoid paying for invalid checks.

Safeguarding Against Loss or Theft: Brand’s Positive Pay also protects your payroll checks in the case they ever fall into the wrong hands. If an employee reports that their check is missing or stolen, you can quickly cancel it and issue a new one. This way, you can prevent unauthorized parties from cashing your payroll checks and reduce the risk of identity theft.

To add Positive Pay to your PayDeck account, or to learn how else Brand’s can protect your payroll, reach out us any time at cs@brandspaycheck.com.