Check Positive Pay Services. Our Check Positive Pay Services allow you to set acceptance criteria and identify on exception items. An exception item is a Check Entry not previously authorized or written by you. Check Positive Pay provides a way for you to request that some or all checks against your relevant account(s) be blocked. Where required, you will indicate which Checks you want us to return, having been deemed by you to be unauthorized.
Check Positive Pay Services. Prior to issuing any checks on an Authorized Account, Company shall submit an Issued Check File to Bank one (1) Business Day before issuing checks to payees. The Issued Check File shall accurately state the complete check number, exact amount, and the date of every check issued on each Authorized Account since the last Issued Check File was submitted. Each Issued Check File must be submitted to Bank on designated Business Days by 6:00 pm Central Time by uploading/importing through the System. Company shall include the payee name in the Issued Check File when electing to use Payee Match Positive Pay. Company shall upload the Issued Check File on the System. The Positive Pay System is capable of mapping Check Files created from multiple software programs. Company will provide a sample file to Bank prior to training and Bank will map the file to create a template specific to Company. If Company issues a stop payment order on a check that was listed in an Issued Check File, check will be considered matched in the Positive Pay System. Bank may recommend Company use a certain designated vendor for check printing needs to assure that Company’s business checks meet the standards of the ACH Rules. Company agrees to ensure the MICR encoding ink is of high quality. Not using business checks with high quality MICR ink could result in a large number of Positive Pay violations, Exceptions, and high costs to Company. With respect to the determination of an Exception Check:
Check Positive Pay Services. The Check Positive Pay service permits the Client to identify and make payment decisions regarding checks items presented for payment against the Client’s deposit account. Positive pay services further allow the option of no checks being presented for payment on an account, all checks thereby being automatically returned unpaid.
Check Positive Pay Services. Prior to issuing any checks on an Authorized Account, Third-Party Sender shall submit an Issued Check File to Bank one (1) Business Day before issuing checks to payees. The Issued Check File shall accurately state the complete check number, exact amount, and the date of every check issued on each Authorized Account since the last Issued Check File was submitted. Each Issued Check File must be submitted to Bank on designated Business Days by 6:00 p.m. CT by uploading/importing through the System. Third- Party Sender shall include the Payee name in the Issued Check File when electing to use Payee Match Positive Pay. Third-Party Sender shall upload the Issued Check File on the System. The Positive Pay System is capable of mapping Check Files created from multiple software programs. Third-Party Sender will provide a sample file to Bank prior to training and Bank will map the file to create a template specific to Third-Party Sender. If Third-Party Sender issues a stop payment order on a Check that was listed in an Issued Check File, Check will be considered matched in the Positive Pay System. Bank may recommend Third-Party Sender use a certain designated vendor for check printing needs to assure that Third-Party Sender’s business checks meet the standards of the ACH Rules. Third-Party Sender agrees to ensure the MICR encoding ink is of high quality. Not using business checks with high quality MICR ink could result in a large number of Positive Pay violations, Exceptions, and high costs to Third-Party Sender. With respect to the determination of an Exception Check:
Check Positive Pay Services
