Inwood National Bank User Guide Business Edition

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Positive Pay Can positive pay be utilized without pre-authorizing items? Yes, however it is not advised. Pre-authorizing items cuts down on the number of potential exceptions and prevents delays when checks are cashed over the counter at an Inwood location. I pre-authorized a check but it is showing up as an exception today? The positive pay system will err on the side of caution when comparing a check to your pre-authorized items. It could be an encoding error that created a mismatch, or it could have picked up an additional name, or it could have been a true mismatch. An ACH Rule was created but exceptions are still being created, why? The ACH Rule may be too specific. ACHs key off the Company ID and can be further filtered by SEC, type (debits or credit), and max allowed amount. In some situations, it may be best to allow all SEC codes and all amounts. Is there a proper way to format a check? Yes! The payee match process uses Optical Character Recognition (OCR) to identify the payee on the check image and as such there are many factors to consider when validating a payee. The payee match guidelines can help with formatting checks which will also cut back on the number of potential exceptions. I voided a check, why is it still coming in to pay? Voiding a check will not stop a check from paying. It will, however, void the item causing it to become an exception when it comes to pay. At that time, you can choose to pay or return the item. What happens if a user does not have access to work positive pay exceptions? It is best to have multiple backup users, to prevent missed exceptions. Also, should your primary access be lost, positive pay is accessible via Inwood’s on-line banking app.

Frequently Asked Questions: Positive Pay