Reverse Positive Pay Service. This Service allows you to review all checks presented against your Account instead of reviewing individual exception items. Each day, we will provide you with information and images of the checks presented the previous Business Day. The Reverse Positive Pay Service will show each check paid, along with its serial number and amount, and will give you access to an image of the check. You can compare this information to the checks as you issued them. If you notify us of any check or item to be returned before the Cutoff Time on the Business Day after the check is presented, we will return the check to the bank of first deposit. By enrolling an Account in the Reverse Positive Pay Service, you satisfy your obligation under the Section entitled “Fraud Detection and Prevention – Positive Pay/ACH Positive Pay - Indemnification” to enroll that Account in Positive Pay. Note: enrollment in the Reverse Positive Pay Service does NOT satisfy your separate obligation under this Agreement to enroll in our ACH Positive Pay Service (or to indemnify the Bank against losses that use of ACH Positive Pay could prevent). Reverse Positive Pay does not block, limit or filter any ACH activity in your designated Accounts. Furthermore, under certain circumstances, checks can be converted by holders into ACH debits against your designated Account rather than presented as checks. Reverse Positive Pay will not block payment of ACH debits from converted checks. Accordingly, enrollment in Reverse Positive Pay does not modify your responsibility to monitor your designated Account on a daily basis, to review all designated Account periodic statements, and to promptly report any unauthorized or erroneous activity that is identified or identifiable by such monitoring and review.
Reverse Positive Pay Service. If you selected a Reverse Positive Pay Service on the Set-Up Form, this section will apply. On each Business Day, Bank will make available a Suspect Check List that indicates whether Bank has received any Suspect Checks and, if so (i) lists the check number, amount and payee of such Suspect Check(s), and (ii) makes available an image of the face of such Suspect Check(s). Bank will make the Suspect Check List available in the format and manner, and by the time, specified by Bank.
Reverse Positive Pay Service. As an alternative to the Positive Pay Service described in Part II, subsection 8.1, Customer may elect to use the Reverse Positive Pay Service (also referenced herein as the “Positive Pay Service”) to quickly identify and act upon fraudulent checks as well as quickly reconcile Customer’s Designated Accounts, which are the Designated Accounts listed the Enrollment Form pertaining to EBIB and made a part of this Booklet. Customer must also enroll in EBIB to take advantage of this alternative Positive Pay Service.
Reverse Positive Pay Service. Reverse Positive Pay Service makes images of the Checks that were presented to us for payment before the deadline (that we establish from time to time) available to you on Business Online Banking on the same Banking Day on which the Checks were presented to us for payment. Using the Business Online Banking Positive Pay module, you must review the presented Checks and compare them with your Check issuance records and, in accordance with our procedures, decide whether to dishonor any presented Check. We will be authorized to act accordingly to pay any Check presented to us for payment unless you otherwise instruct us prior to the established deadline. We will make Commercially Reasonable efforts to honor your Instruction. We will have no responsibility for any liability, loss, or damage resulting from our (i) payment in accordance with this section of any Check that is altered or unsigned or which bears a forged or unauthorized signature, or (ii) return of any Check in accordance with this section.
Reverse Positive Pay Service. If you subscribe to our Reverse Positive Pay Service on your ARP and Positive Pay Service Request, then each Banking Day we will make images of the Checks that were presented to us for payment before the deadline (that we establish from time to time) available to you via UMB Direct on the same Banking Day on which the Checks were presented to us for payment. Using the UMB Direct check management module, you must review the presented Checks and compare them with your check issuance records and, in accordance with our procedures, decide whether to dishonor any presented Check. We will be authorized to act according to pay any Check presented to us for payment unless you otherwise instruct us prior to the established deadline. We will make commercially reasonable efforts to honor your Instruction. We will have no responsibility for any liability, loss or damage resulting from our (i) payment in accordance with this section of any Check that is altered or unsigned or which bears a forged or unauthorized signature, or (ii) return of any Check in accordance with this section.
Reverse Positive Pay Service
