Positive Pay

Our Positive Pay service is an automated business to business check matching process which is run out of our Account Reconciliation service and is available for clients who meet the service requirements. Your issued check list is matched to the daily paid items and exception items (i.e. items that are not contained in the checks issued file you have supplied us and therefore may be fraudulent) are identified. They are then captured on a daily report and referred to you for pay/no pay instructions.

Why use Positive Pay?

• may reduce potential exposure related to check fraud
• identifies exception items at the time of presentment, rather than during subsequent statement reconciliation
• limits the reconciliation process to unmatched items only
• upon request, copies of specific exception items can be faxed to you for review

What’s the bottom line on Positive Pay?

Positive Pay will help you to more quickly identify potentially fraudulent and other exception items and allow you to promptly instruct our bank to return any such item(s) to the negotiating financial institution.

Service Features

• electronic matching is based on check serial number and the encoded amount.
• checks matching information on the issued check file you provide us are automatically paid.
• you will receive a full account reconciliation at the end of your accounting period .

TO APPLY:

Give us a call and we will activate ACH Cash Management on your existing Internet Banking user account.