In this blog, let’s see why having positive pay is important for a business.
Imagine you own a frame store. One day, you were sitting behind the counter of your frame store. You were just relaxing and calmly looking at your employees doing their job. For the past week, you have been busy manually making check payments to all your suppliers and vendors. Now that you have finished mailing checks and taken care of those payments, you finally have a moment to breathe. As you were resting, two little girls came in. Both of them were very excited as their friend’s birthday was approaching, and they were here to give their friend a photo frame as a gift. You were surprised to see such young customers so eager and enthusiastic about choosing a frame.
Though they were little, assumably around ten years old, they were very particular about their choice. They needed a frame that was pink in color and also had a touch of sparkle. You showed them some pictures of frames you had in your store that met their demands. Unfortunately, the one they chose was out of stock. But you assured them that their frame would be delivered to the given address within two days. Though the girls were a little disappointed at first, your reassurance quickly brought back their smiles. You explained how you would custom-make the frame for their friend, ensuring it would be perfect and just as they envisioned.
You were quite sure that your frames would reach you within two days as all the payments were completed. But just to confirm, you called your suppliers to know the status of the frame. Your heart sank as you heard the supplier’s response. “Actually, we haven’t received the payment yet, and so we haven’t processed the order.” “What! But I got the message from the bank that the check has been cashed!” you said. But the supplier was quite sure that the payment had not been received and asked you to check again with your bank.
You immediately ran to the bank as losing such a big amount was out of the question. It’s true; your check has been cashed. If it is not your supplier, then who? You had no idea! You sat there without knowing what to do. Coincidently, an old friend of yours was there in the bank. After listening to your problem, he said that the same thing had happened to him before, and that’s when he started using the positive pay feature from OnlineCheckWriter.com – Powered by Zil Money.
Let’s see how using the positive pay feature can help.
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Positive Pay – The Guard to Your Check Payments
You would have never gone through the above-mentioned situation if you had the positive pay feature from OnlineCheckWriter.com – Powered by Zil Money. Let’s see how the feature works. With the feature, you can send the details of the checks that you want your bank to process days before your payee presents them for payment. You can give details like the check number, payee’s account number, amount, and more.
After that, what the bank does is compare the checks presented for payment with the details you provided already. If everything matches, the bank will process the payment, but if there is any confusion, the bank will immediately contact you. You can decide whether to process that check or not. This way, the positive pay feature from the cloud-based platform makes sure that no fraud checks hit your account.
Positive pay is not the only security feature offered by the platform. The cloud-based platform also offers features like customization, which lets you add elements like watermarks and signatures on your check. Adding these elements makes your checks hard to copy for fraudsters.
Mail Your Checks Easily
As a business owner, it’s essential that your payments are secure and reach your suppliers exactly within the promised time frame. The check mailing feature from OnlineCheckWriter.com – Powered by Zil Money, allows you to mail your checks on time. This feature would also not have the situation mentioned above happen to you.
With the feature, you can track your checks. In the above-mentioned situation, the check was cashed from your account even before it reached your supplier. If you had this feature, you would have had clear visibility of when the check would be presented for payment, giving you the opportunity to identify any fraudulent activity before it was too late.
The cloud-based platform will never delay your check payments. The platform automates the entire check mailing process and delivers the check to your payee quickly, giving no time for fraudsters to create a fake copy of your checks.
Conclusion
With OnlineCheckWriter.com – Powered by Zil Money, you will never have to worry about the security of your checks. The platform offers security features like positive pay, customization, tracking, and more, which prevent any fraud checks from hitting your account. The check mailing feature also allows you to make check payments quickly.
