What is the use of positive pay?
Positive Pay is a service that provides fraud detection for checks by ensuring that only authorized checks are cleared by transmitting a list of issued checks to the bank via API, FTP, or Excel sheet upload. The system immediately notifies the bank when a check is canceled or voided, eliminating the need for manual notification. If a presented check does not match the issued check's list, it becomes an "exception item" and is returned to the sender for review and approval by fax or image of the check. This service helps companies prevent fraudulent payments, reduce fraud risks, and optimize their cash management processes.
Related Articles
Positive pay
Positive pay is a fraud prevention service offered by banks. It's a helpful tool for businesses against check fraud. Businesses can provide their banks with a list of checks issued with the check number, date, and amount. So when a check is presented ...
How to export the Positive Pay file?
Step 1: Log in to Online Check Writer and go to Bank Accounts. Step 2: Click Positive Pay in the top right corner of the page. Step 3: Click on the REQUEST NOW button. Step 4: The customer support team will verify and enable the feature. Step 5: ...
How to set the positive pay to protect your check from fraudulent activities?
Step 1: Log in to Online Check Writer and go to Bank Accounts. Step 2: Click the Positive Pay in the top right corner of the page. Step 3: Select the Bank and click the Set Positive Pay button. Step 4: Fill in the Details and click the Save button.
How to Use the QuickPay Feature to Mail a Check
Fast and simplest way /quickpay/mailcheck { "source" : { "accountType" : "bankaccount", "accountId" : "{{bankAccountId}}" }, "destination": { "name": "John Myres", "company": "Tyler Payment Technologist", "address1" :"5007 richmond rd", ...
Can I use payroll by credit card if I don't have a payroll application?
Yes, you can add payroll manually and use payroll by credit card if you don't have a payroll application.