ACH Positive Pay definition

ACH Positive Pay. You will choose if debits, credits, or both will be presented daily for review. These items will be presented electronically through Extraco’s E-Business service.

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ACH Positive Pay means Bank’s fraud system of electronically matching incoming ACH Transactions to Authorized ACH Entries and ACH Blocks created by Company, based on specifications by Company in its Application.

Examples of ACH Positive Pay in a sentence

If a Customer is enrolled in ACH Positive Pay then any ACH Debit that would create an overdraft in such Customer’s Account may be included in Bank’s overdraft list that is presented to account officer’s for review and pay/return decisioning.
If the ACH Positive Pay Service or this Agreement are terminated for any reason, Bank will no longer be obligated to monitor files or Entries against the Operating Instructions and Bank will receive and accept or return files/Entries to Customer’s account in accordance with Bank’s normal procedures.
The ACH Positive Pay Service enables you to decision Automated Clearing House transactions ("ACH Transactions") associated with your deposit accounts (each, an "Authorized Account") based on the criteria set by you and the instructions you provide to us upon the initial setup of your user configuration.
In such cases the account officer’s decision whether to pay or return the ACH Debit will override any decision made by Customer through ACH Positive Pay.
Except as provided in this ACH Positive Pay Service Agreement, the Bank shall authorize and process a Debit Entry without further examination only if it is preauthorized by the Customer as provided in the Debit Entry instructions the Customer provides or the Customer defines within Cash Management.
The Customer may provide ACH Positive Pay instructions (“Operating Instructions”) to the Bank for input or the Customer may input Operating Instructions within Cash Management.
However, we strongly recommend that you use Positive Pay, ACH Positive Pay and Trusteer Rapport as part of your internal controls.
Our Digital Services that may be made available to certain Business Customers upon request, include but are not limited to: • ACH Origination • Sub-User Administration • Wire Transfer Requests • Positive Pay and ACH Positive Pay • ACH Debit Block Filter • Remote Deposit Capture • EDI Reporting We may add or remove certain features and/or functionality from time to time.
To use the ACH Positive Pay application, you will define whether you want to filter only ACH Debit Entries, or both ACH Debit and Credit Entries.
These Fraud Safeguard Services include, by way of example and not exclusion, our ACH Fraud Protection Service (including ACH Filters with ACH Positive Pay and ACH Blocks) and our Check Positive Pay Service (with or without Payee Verify).

More Definitions of ACH Positive Pay

ACH Positive Pay means the service described in Section 4 below that includes the use of established ACH Policies to dictate what ACH debit and credit items require further review before posting. Unless indicated elsewhere in this Agreement, all terms and conditions of this Agreement apply to ACH Positive Pay Service.

ACH Positive Pay. ACH Positive Pay allows you to create Payment Rules, which will determine whether an ACH transaction will be paid or blocked. If a transaction matches the Payment Rules, it will be processed. Blocked transactions will be presented to you as an Exception Item. • Positive Pay Reporting: Ability to receive Electronic Data Interchange (EDI) and/or BAI2 transactional reporting. ▇▇▇ reporting provides detailed addenda records associated with ACH transactions. BAI2 reporting provides transactional account history utilizing a standardized BAI2 code. Reports can be transmitted through Secure File Transfer Protocol (SFTP)* or can be pulled directly from the Positive Pay Service. o SFTP requires acceptance of service and setup. This service is subject to a set up fee and monthly fee. Refer to our Schedule of Fees.

ACH Positive Pay. (ACH Positive Pay) means you will choose if debits, credits, or both will be presented daily for review. These items will be presented electronically through Extraco’s E-Business service.