Common use of Positive Pay Process and Data Transmission Clause in Contracts

Positive Pay Process and Data Transmission. The Positive Pay process occurs daily and requires certain Customer actions in order to work properly. The first step is uploading the Check Issue File. The Issue Import Module provides a means for loading issued check data plus any void and/or stop information exported from Customer’s accounting system to the Bank's reconciliation system. The Issue Import Module also has a self-service feature to enable the Customer to import data and reduce the amount of support needed. (Issues and voids are not used for Reverse Positive Pay).

Positive Pay Process and Data Transmission. The Positive Pay process occurs daily and requires certain Customer actions in order to work properly. The first step is uploading the Check Issue File. The Issue Import Module provides a means for loading issued check data plus any void and/or stop information exported from Customer’s accounting system to the Bank's reconciliation system. The Issue Import Module also has a self-self- service feature to enable the Customer to import data and reduce the amount of support needed. (Issues and voids are not used for Reverse Positive Pay).