Reduce Exposure to Check Fraud
For years, check fraud and forgery were generally committed only by the most technically sophisticated and artistically talented criminals. Now, with more powerful and user-friendly computer technology and high-quality printing equipment readily available, criminals have sophisticated tools at their disposal to put a fraudulent check scheme in motion. That's why M&T Bank offers Payee Positive Pay, an important step in guarding against check fraud.
When M&T Bank's Payee Positive Pay service is used with M&T Bank's Full Reconciliation Service, your company sends M&T a daily file of checks that have been issued. M&T then compares the check serial numbers, dollar amounts, and payee name of checks that match your check issue file. Checks failing this match are reported to you for a decision as to whether they should be paid or returned to the bank of first deposit.M&T offers additional Treasury management services that can help protect you from check fraud, including:
- Stop payments
- Maximum dollar amount settings
- Stale date control
- Electronic payment services
To find out more, call M&T's Commercial Service Team at 1-800-724-2240, or contact your M&T Relationship Manager.