Our Positive Pay service is an automated business to business check matching process which is run out of our Account Reconciliation service and which is available for clients who meet the service requirements. Your issued check list is matched to the daily paid items and exception items (i.e. items that are not contained in the checks issued file you have supplied us and therefore may be fraudulent) are identified. They are then captured on a daily report and referred to you for pay/no pay instructions.
Positive Pay will help you to more quickly identify potentially fraudulent and other exception items and allow you to promptly instruct our bank to return any such item(s) to the negotiating financial institution.