ACH Positive Pay Service. ACH Positive Pay allows you to use positivePayPlus to establish payment rules to determine which ACH Debit Entries will or will not post to your account. ACH transactions occur Monday through Friday, except on a non- Business Day.
ACH Positive Pay Service. This Service provides you with a way to identify and prevent the payment of ACH debit Orders that you have not authorized.
ACH Positive Pay Service. You may select Positive Pay services for ACH transactions and shall note your selection on the Specifications. If you elect to utilize ACH Positive Pay, you shall manually enter into, or import from your accounting system into, our Positive Pay system, or otherwise transmit to us, directly or through a third party acceptable to us, in accordance with procedures specified by us from time to time, companies authorized to debit and/or credit your deposit account, with transaction amount limitations and effective/expiration dates. We or our Service Provider will run each ACH file to identify ACH transactions that are suspects based on the authorized company records as provided by you and will provide an electronic list of pending suspect transactions (the “Suspect Transactions”) to you on each Business Day. You shall promptly, but by no later than 12:00 PM MT on the Business Day following receipt of the Suspect Transactions, review the Suspect Transactions and provide a pay/return decision for all suspect transactions. You may also elect to allow a suspect transaction to post by authorizing a company for future ACH transactions by adding a new authorized company record or changing an existing record. If you do not provide a pay/return decision or add or maintain company records to allow suspect entries to post in cycle processing, items will reject and will be placed on the Positive Pay exceptions screen the next day. In the event that you do not make a funding decision as to any suspect transaction in the manner summarized above, we will return the item, and you waive all right to dispute non-payment of the item.
ACH Positive Pay Service. The ACH Positive Pay Service allows you to review certain ACH debit entries (“ACH Exceptions”) prior to posting to your designated account and make decisions on whether to pay the ACH debit entries or return the ACH debit entries. An ACH Exception is an ACH debit entry that is blocked because it does not match the criteria in an ACH payment rule defined by you (“ACH Payment Rule”). ▪ ACH Payment Rules. ACH Payment Rules are conditions that determine whether ACH debit entries are paid or are blocked. Using ACH Payment Rules, you may set a maximum amount for an ACH debit entry, specify one or more standard entry class code(s), or specify one or more originator(s). If an ACH debit entry conforms to an ACH Payment Rule, the item will be paid as normal. If an ACH debit entry does not conform to an ACH Payment Rule, the entry will be blocked, and you can review the ACH Exception and decide whether to pay the ACH debit entry or return the ACH debit entry. An ACH Payment Rule must be created, modified or deleted prior to 4:00 a.m. PT in order for the ACH Payment Rule to take effect for the current business day ACH exception decision window, between 5:00 a.m. PT and 12:00 p.m. PT (“Decision Window”). An ACH Payment Rule created, modified or deleted after 4:00 a.m. PT will take effect for the following business day Decision Window. ▪ ACH Payment Decisions. An “ACH Payment Decision” is an action you take on an ACH Exception that determines whether the ACH Exception is paid or returned. You can make an ACH Payment Decisions during the Decision Window. If you do not make an ACH Payment Decision during the Decision Window, the ACH Exception will be returned at the close of the Decision Window. Your ACH Payment Decision options are “Pay,” “Return” or “Pending Decision.” If you decide to Pay or Return an ACH Exception, any required approvals must be obtained before the ACH Payment Decision is applied to the ACH Exception.
ACH Positive Pay Service. (b) Overview. Our ACH Positive Pay Service allow you to identify exception items, and to instruct us whether to pay or return those items. An "Exception Item" is an ACH Entry not previously authorized by you. ACH Positive Pay provides a way for you to request that some or all ACH Entries against your relevant account(s) be blocked. Unless mutually agreed otherwise, blocked Entries will be returned with the return codes we specify.
ACH Positive Pay Service. (a) Client may use the ACH Positive Pay Service to review and confirm ACH debit transactions that post to the specified Client accounts listed on the Supporting Documents.
(b) For ACH Positive Pay Service, Client may establish (and update from time to time) through the System its ACH rules which govern permissible transactions by SEC Code, Company ID, Transaction Type, and Amount Threshold. All transactions that meet the filter criteria are processed according to the ACH rule.
(c) Default Action Types include either PAY ALL or RETURN ALL. The Default Action is applied to any ACH transaction identified as an exception. Client shall select the Default Action for Check and ACH exceptions at the time of enrollment in the service. The default action (PAY ALL or RETURN ALL) must be the same for all accounts enrolled in Positive Pay & ACH Positive Pay service for a particular Client. In order to change Default Action, Client must submit appropriate documentation.
i.) RETURN ALL–ACH transactions flagged as exceptions will be returned if customer has not submitted a request to pay through the Positive Pay system prior to the cut-off time.
ii.) PAY ALL–ACH transactions flagged as exceptions will be paid if customer has not submitted a request to return through the Positive Pay system prior to the cut-off time.
(d) Client acknowledges that the Services do not cover ACH debit or credit items which Bank has already paid or finalized or which Bank is already committed to pay or honor under applicable laws, regulations or the ACH Operating Rules.
ACH Positive Pay Service. The ACH Positive Pay Service allows you to block or lim it ACH Debit transactions against your account(s) based on param eters you set. You will be required to check reports on Business Online for ACH Debit transactions that are identified as exceptions based on your param eters.
ACH Positive Pay Service. A. Description of Service. ACH Positive Pay is a service whereby Bank and Customer exchange information according to the process described herein in order to authorize and/or confirm the payment or return of ACH Debit Transactions presented for payment against an Account of Customer, as said terms are defined below. As used herein, "ACH Debit Transactions" shall mean certain electronic funds transfers, one or more, which settle within a bank or between banks according to specified rules and procedures governed by the Federal Reserve and NACHA, which transfers have the intended result of removing funds from a Designated Account of Customer. This ACH Positive Pay Service shall be applicable to the Designated Accounts for this Service. If a Designated Account does not have sufficient available funds to pay an ACH Debit Transaction, Bank will not be obligated to pay any ACH Debit Transactions presented against the Designated Account. The systems which facilitated ACH Funds Transfer Services and the ACH Positive Pay Service set forth herein are not designed to detect or prevent fraud due to other types of paperless entries (to include wire transfers or other electronic fund transfers) to a Designated Account of Customer.
ACH Positive Pay Service. (a) Before using the Service, Customer must have applied for, been approved, and be using the Bank's Internet banking service. Persons authorized by Customer to perform certain duties in connection with the Bank’s Internet banking service shall be deemed authorized persons for the Service. Bank may rely on instructions from any person identifying himself or herself as a person so authorized by Customer.
(b) This Service permits you to preauthorize ACH Entries by designated Originators and to view and decision (honor or reject) non-preauthorized ACH Entries each Banking Day. You will have an option within the Bank’s Internet banking service to work with your exceptions as they arise. It is your responsibility to work your ACH Positive Pay exceptions daily between the hours of 7:00am (ET) and 11:00 am (ET).
(c) ACH Entries that you choose to pay will flow through the normal ACH processing system and post to your deposit account(s). ACH Entries that you choose to reject will not post to your deposit account(s) and will be returned to the Originator. Any ACH Entry for which you do not make a decision to pay or reject by 11:00 am (ET) will be paid automatically.
(d) Method of Rule or Filter Block, Customer shall identify and define the rules for all pre-authorized ACH Transactions and/or define the filter blocking for all or specific standard entry class. Customer agrees to use the Bank’s Internet Banking service for accessing the ACH Positive Pay Service.
(e) ACH Debit Entries receivedprior to the setup of the ACH Positive Pay Service (including ACH Filters and/or ACH Positive Pay) may be posted to your deposit account(s) in accordance with the NACHA Rules (as defined in this Agreement).
(f) Your System Administrator(s) has the authority to grant additional users access to the ACH Positive Pay system.
ACH Positive Pay Service. ACH Positive Pay permits customers to identify which ACH Debit Entries will or will not post to your account each Monday through Friday, except on a non- Business Day, by ACH Blocks or ACH Filters manually input or uploaded to positivePayPlus by Customer.
