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 these tools at their disposal to put a fraudulent check scheme in motion. That's why M&T Bank offers Payee Positive Pay Service; an important step in guarding against check fraud.
M&T Bank's Payee Positive Pay Service can be used with or without M&T Bank’s Full Reconciliation Service. For better fraud protection, Full Reconciliation Service should be used in conjunction with Payee Positive Pay 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, please send us an email, call 1-800-724-2240 to speak to one of our experienced Commercial Service Team Representatives, or contact your M&T Relationship Manager.