Positive Pay. The Bank's positive pay service is a data matching service and a tool that business account customers may select for eligible checking accounts to help you manage and control risks associated with the payment of items presented against your account through the normal interbank clearing process, by enabling you to detect and prevent check fraud by identifying Items presented for payment to the Bank that you did not issue or authorize and to decide which discrepant items are to be paid or returned unpaid. You agree if the Bank offers you its positive pay service or other commercially reasonable security procedures designed to safeguard your account and you choose not to enroll in those services, you agree to assume all of the risks associated with the payment of all items drawn or presented for payment on your account.
Appears in 5 contracts
Samples: Account Agreement and Disclosures, Account Agreement and Disclosures, Account Agreement and Disclosures
