Reverse Positive Pay definition

Reverse Positive Pay means a service in which Bank will not upload check issue files into the system and all items presented are suspects, placed on an Exception Report and referred to Customer for review. This Service alerts the Customer if there is check activity on the account. Customer reviews each check and informs the Bank whether each check is to be accepted for final payment or rejected.
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Reverse Positive Pay means the process by which the Administrator shall review Settlement Payment checks that have been cashed to confirm that the Check Opt-In Form language has not been altered, that the check has been signed, and that the check has not been cashed previously. Because any checks that are not reviewed are automatically paid out of the Qualified Settlement Fund’s Reverse Positive Pay account at the end of the bank’s business day, the Administrator shall perform the Reverse Positive Pay duties the same day that the check is cashed and direct the bank to reject payment on any checks that show alterations to the Check Opt-In Form language, that are not signed, or that previously have been negotiated.
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Reverse Positive Pay means the service offered through Business Online Banking that allows Company to review Checks presented to Bank for payment to determine whether the Checks should be paid or returned.
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Examples of Reverse Positive Pay in a sentence

  • Describe any fraud security services that your bank offers such as Positive Pay or Reverse Positive Pay programs.

  • Reverse Positive Pay Reverse Positive Pay allows Company to review all checks presented against its Accounts.

  • All presented checks for a Reverse Positive Pay account are treated as Exception Checks.

  • Bank shall provide Customer with certain Positive Pay, Reverse Positive Pay, Payee Positive Pay, Partial Reconcilement, Full Reconcilement, Deposit Reconcilement, and Image Archive services as selected by Customer in one or more written Enrollment Request (s) according to Customer’s instructions or service selections in such documents.

  • Checks that are presented over the counter for deposit will appear on the Reverse Positive Pay Report made available to the Company the second business day after the day of deposit.

  • Checks that are presented over the counter for encashment are not eligible for Reverse Positive Pay.

  • Reverse Positive Pay Service reports all items presented to the Bank for payment as Exceptions.

  • Customer agrees that failure to implement or complete the daily review of any of the Positive Pay services (Reverse Positive Pay or File Upload Positive Pay) will preclude the Customer from asserting any claims against AB&T for paying any unauthorized, altered, counterfeit or any other fraudulent item that such product, service or precaution was designed to detect or deter and AB&T will not be required to re-credit your account or otherwise have any liability for paying such items.

  • REVERSE POSITIVE PAY With the Reverse Positive Pay Service client receives a report that out-sorts all items paid on its account to enable Client to review and detect fraudulent transactions.

  • Unlike Positive Pay, Positive Pay with Payee Match, or Reverse Positive Pay, Check Block is an account setting to block all checks, and does not allow you to instruct or notify us or return or pay checks on an individual basis.


More Definitions of Reverse Positive Pay

Reverse Positive Pay means a positive pay service that allows you to log in and review all Presented Checks drawn on your Authorized Account. You are not required to submit an Issue file, and we do not create or transmit any Exception Files. Sections 2(a) and 2(b) below do not apply to Reverse Positive Pay. We will pay all Presented Checks in accordance with the Pay Option described in Section 2(c)(i) below unless we receive a Return Request from you instructing us not to pay an Exception Check.
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Related to Reverse Positive Pay

  • Ineligible position means any position which does not

  • Eligible position or "full-time job" means a full-time position

  • Positive beam limitation means the automatic or semi-automatic adjustment of an x-ray beam to the size of the selected image receptor, whereby exposures cannot be made without such adjustment.

  • Best available control technology (BACT means an emissions limitation (including a visible emission standard) based on the maximum degree of reduction for each pollutant subject to regulation under CAA which would be emitted from any proposed major stationary source or major modification which the Department, on a case-by-case basis, takes into account energy, environmental, and economic impacts and other costs, determines is achievable for such source or modification through application of production processes or available methods, systems, and techniques, including fuel cleaning or treatment or innovative fuel combustion techniques for control of such pollutant. In no event shall application of best available control technology result in emissions of any pollutant which would exceed the emissions allowed by any applicable standard under 7 DE Admin. Code 1120 and 1121. If the Department determines that technological or economic limitations on the application of measurement methodology to a particular emissions unit would make the imposition of an emissions standard infeasible, a design, equipment, work practice, operational standard, or combination thereof, may be prescribed instead to satisfy the requirement for the application of best available control technology. Such standard shall, to the degree possible, set forth the emissions reduction achievable by implementation of such design, equipment, work practice or operation, and shall provide for compliance by means which achieve equivalent results.

  • Payout Period means the time frame during which certain benefits payable hereunder shall be distributed. Payments shall be made in monthly installments commencing on the first day of the month following the occurrence of the event which triggers distribution and continuing for a period of one hundred eighty (180) months. Should the Executive make a Timely Election to receive a lump sum benefit payment, the Executive's Payout Period shall be deemed to be one (1) month.

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Disposable earnings means that part of the earnings of an

  • Covered position means a position in which the employee must be a member of the retirement

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

  • Opt-Out Period means the period that begins the day after the earliest date on which the Notice is first distributed, and that ends no later than 30 days before the Final Approval Hearing. The deadline for the Opt-Out Period shall be specified in the Notice.

  • Matched Positions means Long and Short Positions of the same Transaction Size opened on the Trading Account for the same Instrument.

  • Covered Active Duty means (1) in the case of a member of a regular component of the Armed Forces, duty during the deployment of the member with the Armed Forces to a foreign country; and (2) in the case of a member of a reserve component of the Armed Forces, duty during the deployment of the member with the Armed Forces to a foreign country under a call or order to active duty (or notification of an impending call or order to active duty) in support of a contingency operation as defined by applicable law.

  • Non-Highly Compensated Employee means an Employee who is not a Highly Compensated Employee.

  • Fugitive emission means those emissions which could not reasonably pass through a stack, chimney, vent, or other functionally equivalent opening.

  • Earn-Out Period has the meaning set forth in Section 2.6.1.

  • Covered Period means the period beginning six (6) months prior to a Change in Control and ending twenty-four (24) months after the Change in Control.

  • Actual Deferral Percentage means, for a specified group of Participants for a Plan Year, the average of the ratios (calculated separately for each Participant in the group) of (1) the amount of Employer contributions actually paid over to the Trust on behalf of the Participant for the Plan Year to (2) the Participant's Earnings for the Plan Year (or, provided that the Employer applies this method to all Employees for a Plan Year, the Participant's Earnings for that portion of the Plan Year during which he was eligible to participate in the Plan). Employer contributions on behalf of any Participant shall include: (i) his Elective Deferrals, including Excess Elective Deferrals of Highly Compensated Employees, but excluding (A) Excess Elective Deferrals of Non-Highly Compensated Employees that arise solely from Elective Deferrals made under the Plan or another plan maintained by an Affiliated Employer, and (B) Elective Deferrals that are taken into account in the Average Contribution Percentage test described in Section 5.10 (provided the ADP test is satisfied both with and without exclusion of these Elective Deferrals), and excluding Elective Deferrals returned to a Participant to reduce an Excess Amount as defined in Section 6.5(f); and (ii) if the Employer has elected to make Qualified Nonelective Contributions, such amount of Qualified Nonelective Contributions, if any, as shall be necessary to enable the Plan to satisfy the ADP test and not used to satisfy the ACP test; and (iii) if the Employer has elected to make Qualified Matching Contributions, such amount of Qualified Matching Contributions, if any, as shall be necessary to enable the Plan to satisfy the ADP test and not used to satisfy the ACP test. For purposes of computing Actual Deferral Percentages, an Employee who would be a Participant but for his failure to make Elective Deferrals shall be treated as a Participant on whose behalf no Elective Deferrals are made.

  • Qualifying country component means a component mined, produced, or manufactured in a qualifying country.

  • Planning Director means the Planning Director of the City of Santa Xxxxxx, or his or her designee.

  • Transverse plane means a vertical plane perpendicular to the median longitudinal plane of the vehicle.