Northern Trust
Northern Trust - Paylocity is capable of ensuring account balance by comparing positive pay files versus checks drawn off the account(s), ensuring bank fraud protection and helping with check reconciliation.
Northern Trust
Positive Pay is currently the most effective tool for fraud detection. Positive Pay with Payee Verification builds on our basic positive pay service by adding a verification of the payee name. Payee information is included in your issue file with your other check issue information, and transmitted to the Northern Trust as checks are issued. Using OCR/ICR technology, we will "read" the payee name on the face of your checks that are presented for payment. Any item that does not match your issue information will be referred for a pay or return decision.
