Positive Pay:

• Checks presented for payment at depository bank are compared against the electronic check issuance file to identify unauthorized payments.
• Daily bank reviews to accept or reject items that are unmatched or considered suspect items.
• Positive Pay options that are applied to meeting the City's specific needs are:

Basic Positive Pay – compares checks presented for payment against issuance file with no hard copy account reconcilement reports.

Teller Positive Pay – matches checks presented over-the-counter at any teller against issue file prior to cashing the check.

Payee Match Positive Pay – detects any differences in payee name, in addition to check number and dollar amount.

ACH Fraud Control

• Prevent unauthorized ACH transactions from unexpectedly settling against an account.
• ACH Fraud Control options:

ACH Block – returns all ACH debits or credits attempting to post to an ACH blocked account.

ACH Control – accepts authorized ACH transactions based on a list of designated originators.

ACH Control with Positive Pay – option to review and decide on any items appearing as an unauthorized ACH transaction.

Account Dollar Limits:

• Establish a maximum dollar or ranges of amounts for checks clearing in an account.

Account Reconciliation:

• Timely information on checks presented for payment reviews.
• Monthly statement reconciliations for monitoring and control reports.

Stop Checks:

• Loss or stolen checks are placed on stop to prevent possible occurrences of theft or inappropriate receipt of funds.

Direct Deposit and ACH:

• Maximizing Electronic Payment Transfers of Direct Deposit for employee pay checks and ACH for Vendor payments thereby, reducing the risk of loss or stolen paper checks