Match the terms below with the correct definitions.
-A fraud prevention cash management program offered by banks in an attempt to protect customers and the bank

Question

Quizplus · Accepted Answer

Positive pay is a cash management service employed by banks to prevent check fraud. It involves the company sending a list of issued checks to the bank, and the bank only pays those checks that match the details provided (amount, check number, account number), thus protecting both the customer and the bank from fraudulent transactions.

Match the Terms Below with the Correct Definitions