Reverse Positive Pay. Upon enrollment of Reverse Positive Pay (an optional service), Bank will make available to Company a Reverse Positive Pay Extract. It is Company’s responsibility to review the Reverse Positive Pay Extract and communicate to Bank, in a manner acceptable to Bank, its decision to return any applicable item. If Company fails to communicate the return decision by the Positive Pay Cut-Off time listed in the Positive Pay Configuration/Training Checklist, the checks in the Reverse Positive Pay Extract will be paid. Checks presented at the teller line for deposit will be provided for Company’s review on the following business day. The Reverse Positive Pay service is not available for checks presented at the teller line for cash.
Reverse Positive Pay. If Reverse Positive Pay is selected, on each Business Day, Bank will provide notification and post a list of Presented Checks on ONPointe for Client to make “Return” decisions. Checks will be paid unless Client makes a “Return” decision by the applicable response Cutoff Time.
Reverse Positive Pay. Cut-Off 9:30 p.m. 8:30 p.m. • Presentment Transmission For items received by us prior to the Cut-Off on any banking day, the daily transmission will generally be made available at 4:00 a.m. on the next banking day following presentment (items received after the Cut-Off may be made available on the following banking day). For items received by us prior to the Cut-Off on any banking day, the daily transmission will generally be made available at 3:00 a.m. on the next banking day following presentment (items received after the Cut-Off may be made available on the following banking day). • Bouncer Deadline 2:00 p.m. on the same day that we transmitted the daily transmission to which the bouncer sheet relates. 1:00 p.m. on the same day that we transmitted the daily transmission to which the bouncer sheet relates. • Cut-Off Bank Routing/Transit (“RT”) – 10:00 p.m. Bank Routing/Transit (“RT”) – 9:00 p.m. • Presentment Transmission Bank RT-For Drafts received by us prior to the Cut-Off On any banking day, a Draft List may be made available to you, on request, generally by 4:00 a.m. on the Following bnking day. Bank RT-For Drafts received by us prior to the Cut-Off On any banking day, a Draft List may be made available to you, on request, generally by 3:00 a.m. on the Following bnking day. • Bouncer Deadline 10:00 a.m. on the next banking day following the date of the Draft List identifying the relevant Draft. 9:00 a.m. on the next banking day following the date of the Draft List identifying the relevant Draft. • Bouncer Acknowledgment 1:00 p.m. on the day we receive the Draft Bouncer Sheet, if received prior to the Bouncer Deadline. 12:00 noon on the day we receive the Draft Bouncer Sheet, if received prior to the Bouncer Deadline.
Reverse Positive Pay. If Customer chooses this option, Customer will not have the ability to upload a file or manually input issued checks to be matched. All Presented Checks will appear on the Check Exceptions.
Reverse Positive Pay. If this option is selected, Bank will provide a list of all Presented Checks on each Business Day for Client to review and decision.
Reverse Positive Pay a. Wesbanco will provide the Client with an electronic file or online access detailing all checks presented for payment against the Client’s account(s).
b. Each morning, WesBanco will present in CashFlow Connect a report of checks that will have been presented for payment and which are ready for Client to make a decision whether to pay or return the Items. .
Reverse Positive Pay. With Reverse Positive Pay, Client must monitor the Service every Business Day and review and decision each Presented Check by the applicable Cutoff Time. All Presented Checks will be paid in accordance with Bank’s standard Check processing procedures unless Client submits a “Return” decision by the Cutoff Time. Client understands that Reverse Positive Pay does not provide fraud prevention benefits with respect to Presented Checks that Client fails to timely review and decision if such Checks are fraudulent, and Client will be deemed to have accepted this risk if Client fails to timely review and decision Presented Checks.
Reverse Positive Pay
