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Positive Pay vs. Payee Positive Pay
     
  Positive Pay Payee Positive Pay
 
What is it? Service offered by the bank to their
customers as an added fraud
protection resource.
A higher level of positive pay service offered by the your to their customers for the highest level of fraud protection.
How does it work? A Software program reads the checks present-
ed to the bank for payment and matches key data fields to the customers list of checks
issued. Positive Pay matches fields such as date, amount, account number and check number.
A software program works essentially the same as Positive Pay, with the additional matching of the Payee Name to the customer's list of checks issued.
What is the process?

1) The check issuer enters the key field information into an online system supplied
by the bank. (ie check#, amount, acct#& date)
2) The Data is then electronically transferred
to the bank.
3) The check is issued.
4) When the check is presented for payment,
it is compared to the data received from the
check issuer.
5) If there is an exception the check issuer is notified and has the opportunity to approve
or deny payment.

1) The check issuer enters the key field information into an online system supplied by the bank. (ie Payee Name, check#, amount, acct# & date)
2) The Data is then electronically transferred to the bank.
3) The check is issued.
4) When the check is presented for payment, it is compared to the data received from the check issuer.
5) If there is an exception the check issuer is notified and has the opportunity to approve or deny payment.
Are all bank specs the same? No. Positive Pay programs generally work the same from bank to bank: however, the software may be slightly different and can affect the check requirements. No. Customer will need to ask for specifications from each bank.
Is there a fee for this service from the bank? Yes Yes: typically higher than Positive Pay.