Prevent Check Payment Fraud
Positive Pay is the most common tool organizations use to guard against check fraud. Check Positive Pay, Check Payee Positive Pay and Reverse Positive Pay services help prevent check fraud losses.
Check Positive Pay
Torrey Pines Bank will provide you with a formatted template so that you can easily list all of the checks you’ve issued. Your check list can be uploaded into online banking, manually entered into online banking or directly submitted by your ERP. Then, we compare that list against the checks presented for payment. We pay only the checks you’ve listed, looking at the amount and check number.
If any exceptions are detected, you’ll be notified by email or text message. You will then review the check images online, and decide whether to pay or return each exception item. Positive Pay is easy and helps add a layer of security to your bank account(s).
Check Payee Positive Pay
This add-on service provides another layer of protection, as we also confirm the payee name before releasing payment.
Reverse Positive Pay
You’ll review a list of all the checks that have been presented for payment from your account. Only the checks you approve will be processed for payment. This is a secure, cost-effective way to detect potentially fraudulent checks.
Prevent ACH Payment Fraud
Protect your business from electronic fraud in ACH debit transactions with Torrey Pines Bank’s ACH Positive Pay and ACH Debit Block1. These small business fraud prevention tools guard against fraud losses in Automated Clearing House (ACH) transactions, which include debits and electronic payments.
ACH Positive Pay
Create, maintain and update a list of pre-approved payments. We will pay only the transactions you’ve expressly authorized. You can set payment rules for each account. Those rules can be vendor-specific, amount-specific, one-time, recurring or a combination of these options. You will have the opportunity to review the exceptions. Unauthorized ACH debits will be credited back into your account.
ACH Debit Block
This feature completely blocks all ACH debit transactions. Any incoming ACH debit is automatically returned to the originating bank. Once you set up the service, there’s nothing more for you to do.
Fraud Protection for Your Small Business
With proper safety measures in place, your online banking transactions remain confidential and safe. Torrey Pines Bank takes the following measures to help protect your privacy and the security of your accounts:
Secure Access and Verifying User Authenticity
User ID and password - In order to access Torrey Pines Bank’s online banking, you must enter a User ID and password.
Torrey Pines Bank secure online banking allows you to choose a "Nickname" for each of your accounts. For example, Checking, Payroll, Money Market, etc.
Password "Lockout" System
To keep unauthorized individuals from accessing your account by guessing your password, we have instituted a password lockout system. If your password is entered incorrectly three consecutive times, the user is "locked out" of the system. You must contact the bank for your account to be reset and the system to become unlocked.
Secure Data Transfer
The latest encryption technology ensures that your confidential account information cannot be accessed by another party. Encryption is a way to rewrite something in a code, which can be decoded later with the right "key." When you request information about your accounts, the information is sent across the web in an encrypted format to Alliance Bank of Arizona. We decode your request and send the requested information back to you in an encrypted format. When the information reaches you, it is decoded so that you, and no one else, can read it.
If you are logged on to online banking but do not use it for 15 minutes, you will not be able to proceed until you log onto the system again.
Other Security Measures
In addition to the above safeguards, sophisticated firewalls and an authentication process ensure that only authorized individuals are allowed to enter our system.
1. Requires enrollment in Business Online Banking. Some products and services may be subject to prior approval or fees. Refer to disclosures provided at account opening, the Business Schedule of Fees, and Pro Forma for additional information.