Positive Pay
Positive Pay matches information from the posted check with the corresponding information contained in the check issue file on record at the Bank. The information matched includes the serial number, account number, and amount along with the issue date.
Payee Positive Pay
Payee name verification (Payee Positive Pay) is optional but is strongly recommended. Payee name verification helps to prevent check fraud by comparing the payee’s name on checks to the payee name field in the client-provided issues file. When the payee names do not match exactly, an exception is created and presented for review and decision.
Reverse Positive Pay
Reverse Positive Pay is another form of Positive Pay service. With Reverse Positive Pay an exception is created for all items with no need for a check issue on record. All items are presented for review and decision.
ACH Positive Pay
ACH Positive Pay helps mitigate the risk of fraud by allowing company users to review ACH exceptions and make decisions to pay or return them. Company users can create new payment rules based on exceptions they have decided to pay to prevent future exceptions from being generated for the originating companies.
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