Check Positive Pay Features:

• You can send Bank7 a file detailing the checks that you have issued.
• Each day, your issued checks are compared with the checks that are presented for payment against your account.
• If a presented item does not match the MICR information contained in your issued items file, you will receive a notification of the exception item.
• Positive Pay can detect duplicate items, amount differences, and items presented that are not included in your issued items list.
• The decision window allows you sufficient time to review and research your exception items.

ACH Positive Pay Features:

• You can approve items by amount and Company ID.
• Each day, your pending ACH items are compared to the authorization you have selected for a certain company.
• If a presented ACH does not match your approval list,  you will receive a notification of the exception.
• The decision window allows you sufficient time to review and research your exception items.

Benefits of Both:

• Positive Pay service provides you the tools to detect and counteract Paper Check or ACH fraud.
• Allows you to identify discrepancies before the posting of an item is finalized.
• Minimizes the risk of loss due to fraud.
• The Teller Line Positive Pay feature allows any Bank7 teller to verify or reject a check presented on your account.