In this blog, let us see how the positive pay feature of the cloud-based platform helps small businesses.
Ever had that gut-wrenching moment when you realized a check was altered, forged, or straight-up fake? One day, your account balance looks fine, and the next—you’re missing thousands because of a check you never wrote!
This isn’t just a rare horror story. Check fraud is growing, and small businesses are prime targets. According to the AFP (Association for Financial Professionals), 47% of organizations experienced fraud involving paper checks in 2023—a rise from previous years.
But here’s the good news: You don’t have to be part of that statistic.
With Positive Pay from Zil Money, you can stop fraud before it happens. No more sleepless nights worrying about counterfeit checks. No more headaches over unauthorized transactions. Just peace of mind knowing that your money is exactly where it belongs—in your business.
Click Here To See Interactive Demo⬇
What Is Positive Pay, and Why Should You Care?
Let’s break it down in simple terms. Positive Pay is your financial bodyguard against check fraud. Here’s how it works:
1️⃣You issue a check – When you write a check, Zil Money sends the details (check number, payee name, and amount) to your financial institution.
2️⃣Bank verification – When someone tries to cash or deposit the check, the financial institution cross-checks it against the info you sent.
3️⃣Fraud alert!🚨 – If something doesn’t match, the check gets flagged, and you get an instant notification before it’s processed.
No surprises. No stolen money. No fraudsters draining your account. You’re in control.
The Growing Threat of Check Fraud
If you think check fraud is something that only happens to big corporations, think again. The numbers don’t lie:
📌47% of businesses experienced check fraud in 2023 (AFP Report)
📌Check fraud losses surged to billions annually
📌Small businesses are at higher risk because they often lack fraud detection measures
Here’s how fraudsters operate:
- Altered checks – They change the check amount or payee name.
- Counterfeit checks – They print fake checks with your business details.
- Forged signatures – They sign your name and steal your money.
Without Positive Pay, these scams can drain your business account before you even realize it.
How Zil Money’s Positive Pay Protects Your Business
Zil Money doesn’t just offer Positive Pay—it makes it effortless.
✅ 1. Automatic Check Data Upload
Forget manually sending check details to your financial institution. Zil Money does it for you the moment you write a check. No extra work. No human error.
✅ 2. Real-Time Fraud Detection
Your financial institution won’t cash or deposit any check unless it matches the details you provided. If something looks suspicious, you get an alert instantly.
✅ 3. Cancel or Void Checks Instantly
Made a mistake? Zil Money lets you cancel or void checks with a click. Your financial institution is updated immediately, preventing scammers from exploiting old checks.
✅ 4. Go Beyond Paper Checks
Zil Money lets you opt for ACH, wire transfers, and virtual cards—payment methods that fraudsters can’t tamper with.
How Positive Pay Saved a Business from Losing $5,000
Imagine Jake, a restaurant owner.
Jake wrote a check to his food supplier for $1,500. A week later, his bank flagged a $5,000 check supposedly written by him. Someone had altered his check, changed the amount, and tried to cash it!
Thankfully, Zil Money’s Positive Pay caught the fraud. The bank flagged the fake check, and Jake denied the transaction instantly. Zero money lost.
Without Positive Pay? That $5,000 would’ve been gone forever.
How to Set Up Positive Pay with Zil Money (It’s Easier Than You Think!)
🔹Step 1: Sign up for Zil Money and link your bank account.
🔹Step 2: Enable positive pay and issue checks as usual— the platform automatically sends check details to your bank.
🔹Step 3: When a check is cashed or deposited, the bank cross-checks the details.
🔹Step 4: If a check doesn’t match, you get an alert. Approve or reject it in seconds.
That’s it. No complicated setup. No extra work. Just instant fraud protection.
Zil Money: More Than Just Positive Pay
Why stop at Positive Pay when you can upgrade your entire payment system? Zil Money offers:
💳Credit Card Payments – Pay vendors even if they don’t accept cards.
🏦ACH & Wire Transfers – Secure digital payments for all transactions.
✉️Check Mailing Service – Let Zil Money print and mail your checks.
💻Virtual Cards – Create secure digital cards for online payments.
One platform. Total payment control.
Why Risk It? Protect Your Business Today.
Imagine you are waking up to find thousands of dollars missing from your account because of a forged check. That’s the reality for businesses that don’t use Positive Pay.
With nearly half of businesses experiencing check fraud, the question isn’t if it will happen to you—it’s when.
But you don’t have to be the next victim.
Zil Money’s Positive Pay is simple, automatic, and powerful—and it could save your business from financial disaster.
Would you leave your shop doors unlocked overnight? Then why would you leave your business unprotected from fraud?
Sign up for Zil Money today and keep your money where it belongs—safe and sound.
