Positive Pay is a fraud prevention system offered by most major banks, designed to protect against forged, altered, and counterfeit checks. This system acts as a form of insurance for a company against fraud, losses, and other liabilities related to the bank.
Explore the hidden costs of check processing and how Checkflo’s services can save businesses time and money while maintaining a trusted payment method.
MICR is an acronym for “Magnetic Ink Character Recognition,” which refers to machine-readable text that allows computers to read and process the printed information. MICR technology system was developed by the American Bankers Association in the 1950s and has allowed financial institutions to facilitate automatic check-clearing and streamline their check processing.
Many firms are now contemplating using a check fulfillment service as a way to reduce their costs. But that’s not the only benefit in using such a service! here is a list of the top benefits in using a check fulfillment service like Checkflo.
Many companies are now opting to utilize check fulfillment services as a way to cut costs, increase professionalism and timeliness of checks. As business owner, it is up to you to find ways of lowering your business’s costs while raising your company’s brand awareness and that can be difficult with so many options available on the market when it comes to check fulfillment services.