Positive Pay Files
Postive Pay Files
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Nancy Administrator Posts: 765
2/21/2011
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NancyAdministrator Posts: 765
An increasing number of banking institutions are offering a service often called Positive Pay for check fraud protection. This is a formatted text or csv file listing all valid checks written on a bank account. The file is transmitted to the bank and only checks identified in this file are cashed by the bank. If the bank receives checks that are slightly different, the bank will not accept the checks.
PrintBoss can generate a Positive Pay file for each check in the batch. The PrintBoss form must be edited to add a copy to enable this feature. The copy is designated as a Positive Pay file. The structure of the Positive Pay file is designed to match individual bank requirements. Rarely are requirements the same for different banks. Contact Wellspring Software, Inc., to provide a quote on the cost to create a Positive Pay file if you would like assistance.
To read more, go to: http://www.wellspringsoftware.com/Support/DynamicSupport/Directory.aspx?search=q1040
<em>edited by Nancy on 2/21/2011</em>
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