Positive Pay at First Citizens BancShares

Positive Pay at First Citizens BancShares is a comprehensive fraud prevention and cash management service designed to help businesses protect their accounts from unauthorized or altered checks and electronic debits. Built to integrate with modern treasury operations, the solution empowers corporate customers to detect and respond to fraudulent payment activity quickly, reduce exposure to losses, and simplify reconciliation by automating check and ACH verification against an issuer-supplied file of issued items.

Key Benefits

• Fraud mitigation: Significantly lowers the risk of paying counterfeit, forged, or altered checks and unauthorized ACH debits.
• Improved efficiency: Automates verification processes, reducing manual review time and accelerating reconciliation.
• Enhanced control: Lets businesses define approval workflows and exception handling rules to match internal policies.
• Visibility and reporting: Provides timely notifications and detailed exception reports to support decision-making and audit trails.
• Customizable rules: Supports multiple verification parameters—such as account number, check number, dollar amount, and payee name—to reflect each client’s risk profile.

How It Works

The Positive Pay process begins when a business submits a detailed issue file to First Citizens BancShares listing all checks and, when applicable, ACH transactions that the company has authorized for payment. When items are presented for payment, the bank compares each presented item to the corresponding entry in the issued file. Items that match the issuer’s file are typically paid automatically; items that do not match are identified as exceptions and are flagged for review.

Exceptions are delivered to the customer through secure online channels, where authorized personnel can examine images and data associated with each item and make pay/return decisions. The system supports multiple exception categories, including amount mismatches, duplicate check numbers, out-of-sequence items, and payee discrepancies. Customers can respond to exceptions individually or in bulk and establish default actions for repeat scenarios.

Features

• Check Positive Pay: Compares presented checks against a list of issued checks, verifying check number, amount, and account information.
• ACH Positive Pay (Debit Filter): Provides oversight of ACH debits, allowing businesses to review and accept or decline electronic debits before settlement.
• Payee Verification: Cross-checks the payee name on presented items for an additional layer of scrutiny.
• Image Review: Presents high-quality check images alongside exception details to support accurate decision-making.
• Role-Based Access and Approval Workflows: Enables segregation of duties by assigning viewing and approval rights to different users.
• Custom Rule Sets: Allows creation of rules based on amount thresholds, check ranges, or other parameters to automate routine decisions and reduce exception volume.
• Real-Time Alerts: Sends prompt notifications when exceptions occur, so decisions can be made before settlement.
• Integration Options: Accepts files in standard formats and can integrate with treasury management systems and accounting software to streamline operations.

Operational Workflow and User Experience

First Citizens BancShares' Positive Pay solution is delivered through a secure online platform where users upload issue files or transmit them via supported electronic channels. The platform provides a consolidated dashboard that highlights outstanding exceptions, recent actions, and daily activity. Each exception includes contextual information—presented amount, issued amount, check image, date, and reference number—making it easier to validate authenticity. The intuitive interface supports batch actions and filters, enabling treasury teams to clear large volumes of exceptions efficiently.

Security and Compliance

Security and regulatory compliance are central to the service. Positive Pay leverages strong authentication, encrypted file transmission, and secure account access controls to protect sensitive information. The service helps satisfy internal control requirements and supports audit readiness by maintaining detailed logs of submitted files, exception activity, and user decisions. For companies subject to industry regulations or internal audit standards, Positive Pay contributes to a documented, repeatable fraud-prevention process.

Implementation and Support

Implementation is typically coordinated by a dedicated relationship team that works with customers to define file formats, transmission schedules, and exception resolution procedures. Training resources and user guides are provided to ensure treasury and accounting personnel can manage the system confidently. Ongoing support includes technical assistance for file formatting and transmission, as well as operational guidance on optimal rule configurations and workflow design.

Best Practices

• Submit issue files daily and prior to the bank’s cutoff times to maximize protection.
• Establish clear segregation of duties so different users initiate, review, and approve exception responses.
• Use payee name verification and amount thresholds to reduce false positives while preserving protection.
• Regularly review and adjust custom rules to reflect changes in payment patterns and vendor relationships.
• Retain exception reports and decision logs to support internal controls and external audits.

Who Should Use Positive Pay

Positive Pay is ideal for any business that issues checks or receives electronic debits and wants to mitigate the financial and reputational risks associated with payment fraud. Organizations with high check volume, complex disbursement schedules, or stringent internal control requirements will find particular value in the added oversight and automation the service provides.

Summary

Positive Pay from First Citizens BancShares is a robust, user-friendly fraud prevention tool that enhances account security, streamlines reconciliation, and strengthens internal controls. By automating the verification of issued items and delivering timely exception reporting, the service helps treasury teams detect suspicious activity early, make informed decisions, and reduce potential losses—allowing businesses to focus on core operations with greater confidence in their payment processes.

Address Bank: Raleigh, North Carolina, U.S.
Bank: First Citizens BancShares
Headquarters: Raleigh
Products: Payments & Treasury
Type: Positive Pay