Positive Pay Options. (i) Check Positive Pay. Bank will check the MICR encoding and the dollar amount on the Checks against the Check Issue File.
Positive Pay Options. Client may select the following (ACH Positive Pay is subject to the separate ACH Positive Pay Service Terms & Conditions provided above): • Traditional Positive Pay. Bank will check the MICR encoding and the dollar amount on the Checks against the Issue File. • Payee Verification. If this option is selected, Bank will check MICR information, dollar amount and payees against the Issue File. Bank also offers ARS Reporting as an optional module under the Positive Pay Service that will either send an encrypted email with an attachment or an unencrypted email notifying Client of the transaction information and prompting it to login to Business Online Banking/Positive Pay for details.
Positive Pay Options. Client may select from the following options:
