Bank Positive Pay

Positive Pay is an anti-fraud service offered by commercial banks that allows you to confirm that checks that are presented to your bank for payment have been issued by you and are accurate. Bank Positive Pay is software that automates the process of participating in this service by making it quick and easy to ensure that all checks that your bank processes are legitimate and the amount you expect.

Benefits/Features

Use Positive Pay to Control and Protect Unauthorized Charges to your Bank Account.

Your bank’s Positive Pay program ensures that only the checks that you expect to be processed are allowed through. Specifically, the Positive Pay service will:

• Alert you and hold any checks that you have not issued that have been presented for payment.
• Alert you and hold any checks where payment details differ from what you expected (e.g. payment amount has been changed).

To use the Bank Positive Pay software, you need to be signed up for your bank’s Positive Pay program (contact your bank’s Cash Management, Treasury or Payables Management, Account Reconciliation or Disbursement Services group).

Easy to Use Software Simplifies Getting Check Data to Your Bank.

The Bank Positive Pay software simplifies all aspects of getting your check data to the bank.

• Import from Your Accounting System. Bank Positive Pay can import from every major accounting package including the ability to import Excel, Access, Fixed Text and Tab or Comma Delimited Text.
• Create and Transmit the Check File. Bank Positive Pay is compatible with all bank core processing packages so it will automatically format your data for your bank and securely transmit the data (via FTP, e-mail or secure web upload). Automatic e-mail notifications can be sent when the data is transmitted.
• Reports let you manage the process of transmitting records including the ability to drill down to get details.
• Automated Scheduler. Let the automated scheduler handle all the tasks for you each day: import data, create the data file, transmit it to the bank, notify you and back up the file to a network server.

Trusted By The Experts.

Bank Positive Pay received the Gold Cup Award by the CPA Software News (now CPA Technology Advisor).

Compatible with your Business Environment.

Bank Positive Pay imports from every major accounting package and is compatible with all major US, Canadian and UK bank formats and with every major bank core-processor. (click here for more details).

Reviews/Testimonials

CPA Technology Advisor (formerly CPA Software News), Gold Cup Award: "The fastest and most accurate method of reconciling company account activity without reading a statement line-by-line a month later."