What is Positive Pay?
Positive Pay is a tool used via Business Online to monitor and reconcile all ACH and/or Check debits on your account. All valid transactions will be uploaded to the Positive Pay system, and if there is a transaction that is not listed as valid, the system creates an exception for your review. Positive Pay is great way to mitigate fraud and unauthorized transactions.
How do I enroll in Positive Pay?
To get started with Positive Pay please visit the Setting up Positive Pay help article.
How do I upload check files?
During the enrollment process a bank representative will walk you through creating your check file template. Once created, you will list all checks that are written on your account on the template and upload them into the Positive Pay Portal on a regular basis. Any checks are not uploaded will cause an exception when presented against the account. Please reference the Using Positive Pay Help Article for more information.
How do I upload ACH files?
To upload ACH files you will need to obtain the specific ACH Company ID that is tied to the ACH transaction. Once gathered, you will enter the information into the Positive Pay portal for each ACH file that is valid to debit your account. Any ACH files that are not uploaded will cause an exception when presented against the account.
What happens when there is an exception?
When an exception is presented you will be notified via email first thing in the morning. You will then have until 11:00am EST to login to Positive Pay and decide whether you want to pay or return the item.
What happens when I return an exception?
If your decision is to return your exception you will choose the return decision option and click submit. You will see the debit on your account until the end of day, at which point it will be reversed.
Why is my check file upload rejecting?
There are a couple reasons you may receive a rejected error when trying to upload your check files. Most likely there is an issue in your template causing the reject. Please review your file to make sure that it is in the correct format (xlsx, csv, etc). The format will be decided upon during enrollment and will need to be used each time.
You will also want to be sure that all columns are formatted correctly with decimals and currency. Additionally, please be sure if you are utilizing a Payee column that you do not exceed 80 characters in length.
If you have any further questions regarding Positive Pay please reach out to the Cash Management Department at 781-783-1701.