GNBank Commercial Cash Management Digital Banking Guide

37

Positive Pay

Introduction

Positive Pay is a business feature that helps minimize or eliminate check fraud, prevent related losses and simplify your account reconciliation. ARP- Account Reconcilement Plan, is an automated service that organizes check and ACH information – both paid and outstanding allowing you to reconcile accounts in an efficient, and expedient manner. aka Positive Pay. The Positive Pay system electronically compares daily business-issued checks with existing check records. When a check is filed and does not match the provided record, it is flagged as an exception and referred back to you for a payment decision.

Positive Pay: Introduction