Positive Pay File definition

Positive Pay File means an electronic file prepared daily by the Customer that identifies checks authorized by the Customer for payment. A Positive Pay File includes a list of check numbers by date with corresponding exact dollar amounts issued by the Customer since the date of the Customer's last Positive Pay File submission to the Bank.
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Positive Pay File means a list prepared by you and timely delivered to the Bank which:
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Positive Pay File means the file of checks submitted by Company through Positive Pay for processing.
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Examples of Positive Pay File in a sentence

  • The Positive Pay File is not available at our teller counters and, therefore, any check presented for payment or cashing at our teller counters will not be matched against the Positive Pay File.

  • As additional checks are issued, you must upload supplements to the Positive Pay File prior to the release of the newly issued checks.

  • You shall upload to our system a Positive Pay File consisting initially of all outstanding checks issued by you on the account.

  • Based on this matching process, we shall determine whether any exceptions exist (“Positive Pay Exceptions”), defined as including: (1) Checks that have been posted to your account by us but which do not appear in the Positive Pay File; (2) Checks that have been posted to your account by us for an amount different from the amount indicated in the Positive Pay File; and (3) Checks posted to your account by us with a serial number that is different from that listed in the Positive Pay File.

  • Following each posting of checks to accounts by us, we shall match your Positive Pay File with our records of checks paid.

  • Customer agrees to be bound by any Positive Pay File and Positive Pay Return Items File, whether or not authorized by Customer that is issued in its name and accepted by us in accordance with this Agreement and the security procedures.

  • It is not designed to compare Customer’s Positive Pay File against items that are presented in any other manner (e.g., at a teller window, through an automated teller machine, or by mail).

  • At the Bank’s sole discretion, it may attempt to compare Customer’s Positive Pay File with such items; however, the Bank will not be liable for any failure or refusal to do so.

  • Customer understands and agrees that the Bank may compare Customer’s information on its Positive Pay File with information that is encoded on the items presented to the Bank for payment.

  • Customer agrees that the Positive Pay File will be sent in the format and medium, by deadline(s), at scheduled day(s), and at the places specified in this Agreement.


More Definitions of Positive Pay File

Positive Pay File means a cumulative list of all checks, uploaded by you through use of the System to us, which have been issued by you but have not been presented and are otherwise approved for payment under this Agreement.
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Related to Positive Pay File

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  • Election cycle means the period beginning on the first day persons are eligible to

  • Designated Retirement Account means any retirement plan or account described or qualified under the Internal Revenue Code of 1986, as amended, or a subaccount thereof.

  • Death master file match means a search of the death master file that results in a match of the social security number or the name and date of birth of an insured, an annuity owner or a retained asset account holder.[PL 2017, c. 129, §1 (NEW).]

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Program Year means the annual period beginning January 1 and ending December 31.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.