What is Positive Pay?
Positive Pay is a check fraud prevention tool that allows you to monitor the checks posting to your account(s).
Here is how it works:
- You will need to Upload a CSV File to the bank that list the checks you have Dispersed.
- You will need to Review Daily Exceptions Checks that you will decision to Pay or Return
Steps to Uploading your CSV File (List of Dispersed Checks):
- Login to your online banking profile
- Select Cash Manager on the left:
- Select Positive Pay and Upload Files:
- Choose the account you are uploading for.
- Your Upload File Type should be: CSV File.
- Select Choose File to upload your CSV File.
Please Note: A CSV File is created within Excel and saved as CSV (Comma Delimited)
Example:
Please Note: Your CSV File must be formatted the following way prior to uploading:
- Column A: Check Number
- Column B: Check Amount
- Column C: Payee Name
- Column D: Check Date
Example:
Please Note: These are the amounts listed in Column B: ($1.00; $10.00; $100.00; $1,000.00)
- To view the details of your CSV File, select File Status => Refresh List => View Details:
- Once you have reviewed your dispersed checks, select Approve at the bottom.
- Once you approve the file status will change to Uploaded:
Steps to Reviewing Daily Exception Checks (Pay or Return):
If a check is presented for payment but does not match what you have previously uploaded, it becomes an Exception. Everyday you will need to review and decision to Pay or Return these Exception Checks.
Examples of Exception Reasons include:
- Invalid Amount
- Item not Issued
- Voided Item
- Stale Date
- Zero Serial Number
- Duplicate
Steps to Working Exception Checks:
- Login to your online banking profile
- Select Cash Manager on the left
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- Select Positive Pay and Items
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- To Pay the check, (select the check box) under the Pay Column
- To Return the check, (clear the check box) under the Pay Column
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- Once you are done reviewing all exceptions select Submit
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Please Note: The cutoff time to work exceptions is 1:00 PM Eastern Time, any exceptions not worked after 1:00 PM will be Paid.
If you have questions please feel free to contact our Digital Banking Department at (305)667-5511 or email support@fnbsm.com
Thank you.