What is Positive Pay and ACH Filter ?
Positive Pay and ACH Filter is a simple and effective system for eliminating the most common types of check fraud. It works by comparing the known information about each check - amount and the check number - against the details of checks presented to us for posting. If either of these don't match the check is flagged and presented as an "Exception." You can then review the check and determine if it should be paid or returned.
How does Positive Pay and ACH Filter receive the check information?
After you issue a batch of checks in your accounting program, you simply export the information about those checks into a file. The file is then uploaded into Positive Pay and ACH Filter .
What are "Exceptions"?
Exceptions are items that are presented for posting that do not match the information you provided. For example, the amount or the check number on which the item was drawn are different from what you reported.
What do I do with exceptions?
You can review the exception to determine if the item is legitimate. If it is, you instruct us to pay it. If not, you disallow payment of the item.
Do I have to review every transaction?
No. You will only need to review and act on those items that are flagged as exceptions.