Spencer Savings Bank Cash Management Guide

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Positive Pay

Introduction

Positive Pay is a business feature that helps minimize or eliminate check fraud, prevent related losses and simplify your account reconciliation. 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. In the Services tab, click Positive Pay .

Note : The default action for exceptions is dynamic and will conform to your selected default whether it be Pay or Return.

Positive Pay: Introduction