ACH Positive Pay. ACH Positive Pay allows the Company to view ACH exceptions and make decisions to pay or return them. Customer shall identify to FI all Accounts subject to ACH Positive Pay. ACH transactions are compared against conditions, called payment rules (“Payment Rules”) that determine whether they will be charged to the designated account or blocked. If a transaction matches the condition criteria set by the Company, it will be processed and charged to the Company’s designated Account. Blocked transactions will be presented to the Company to make a decision whether to pay or return them. Information in the reporting of blocked transactions will include, without limitation, the account number, the name of the originating company, the amount, and the effective date of the transaction. Company can create new payment rules based on “paid” exceptions, which will prevent future exceptions from being generated for the same originating companies. If no decision is made by Company to pay or return exception items by the deadline established by FI, the blocked items will be returned. The return reason ‘Corp Advises Not Authorized’ will accompany these blocked transactions.
ACH Positive Pay. The ACH Positive Pay Service may be used to create a list of ACH debit originators and or transactions that Customer has authorized so that Bank may compare selected characteristics of the incoming ACH debit against the list provided to Bank. You may only use this service if You have completed and signed Bank’s ACH Positive Pay Services Agreement and any associated documentation, that material has been submitted to and approved by Bank, and it remains in effect.
ACH Positive Pay a. The ACH Positive Pay module allows Customer to review and decision ACH Debits and Credit Entries including SEC codes POS and MTE; however, any transactions with SEC codes IAT, CIE, SHR, TRC, TRX, and XCK are excluded. All incoming ACH Debits and Credit Entries are posted to Customer‘s Accounts on a daily basis. Each morning, all ACH Debits and Credit Entries that posted to the account the previous night will be presented to Customer for review and disposition. Customer instructs the Bank which ACH Debit or Credit Entries items to pay or return. Customer shall notify Bank prior to the deadline established by the Bank of Customer’s decision on any reported item that should be returned. Customer may also create customized instructions based on criteria the Customer controls such as acceptable payees, amount and frequency to pre-authorize future transactions initiated by such “trusted trading partners” that meet the parameters established by Customer. ACH Debits or Credit Entries that meet such criteria will not be included on future daily review lists and will automatically be processed and charged to or credited to the Customer’s designated Account. Unless otherwise agreed to by Bank in writing the default instructions that will be applied by Bank to all ACH Debits or Credit Entries will be to “return” such items. Accordingly, if no decision is made by Customer to pay or return ACH Debits or Credit Entries by the Bank’s established deadline, such ACH Debits or Credit Entries will not be processed and will be returned by Bank. Customer shall define notification criteria for ACH alerts during enrollment and may choose to receive ACH alerts by text or by e-mail and “per transaction” or “per Account”. Customer selects the review and decision of all ACH Debits or Credit Entries individually; Customer may have one or both services.
ACH Positive Pay. Bank shall provide the service to Company, which allows Company to authorize or filter ACH transfers to or from Company's deposit accounts at Bank. Company acknowledges and agrees that by instructing Bank to filter designated ACH Entries, the Company acknowledges that Bank will act accordingly on Company instruction.
ACH Positive Pay. This Service (“ACH Positive Pay”) permits you to honor or reject non-preauthorized Entries each Business Day through the Bank’s system. Entries that you choose to pay will flow through the normal ACH processing system and post to your Account(s). Entries that you choose to reject will not post to your Account(s) and will be returned to the Entry originator. Any Entry for which you do not make a decision to pay or reject by 1:00 p.m. Pacific Time (or such other time specified in the User Guides) will be rejected automatically. Your Security Administrator(s) has the authority to grant additional Users access to the ACH Positive Pay system.
ACH Positive Pay. You may use the payment fraud protection on accounts indicated on Schedule A to verify presented ACH transactions with rules that you provide to the Bank in writing (“ACH Positive Pay”). You shall identify and define to the Bank, in writing, the rules for all pre-authorized ACH transactions and/or define filter blocking for all or specific ACH transfers (“ACH Rules”). You may modify your ACH Rules for future ACH transactions by notifying the Bank in writing and any new ACH Rules will be effective at 5:00 p.m. the following business day of the Bank’s receipt. Each pending ACH transaction is compared to the ACH Rules to determine if transactions are debited from the accounts or are blocked. If a transaction matches the ACH Rules, it will be processed normally. If a transaction does not match the ACH Rules, it will be blocked as an “exception” item (“ACH Exception List”). The Bank will provide you with a notification of any ACH transaction which has been identified as a “exception” item on the ACH Exception List. It is your responsibility to review the ACH Exception List via Online Banking, and notify the Bank a decision to pay the ACH transaction (“Pay Decision”) or return the ACH transaction (“Return Decision”) by the time set forth in Section 5f of this Agreement, on each business day where exceptions exist. If you miss the deadline or fail to respond, the Bank will reject any ACH transaction contained on the ACH Exception List without a Pay Decision or Return Decision, and such ACH transaction will be returned. The Bank is authorized to indicate the reason for such return as “Corporate Customer Advises Not Authorized” or any other reason the Bank deems appropriate. Youacknowledge that the Bank will have no liability for payment of an ACH transaction which is unauthorized or fraudulent if the ACH transaction was included in the ACH Exception List and you did not notify the Bank with a Return Decision in a timely manner. You acknowledge that the Bank will use reasonable efforts under the circumstances to respond promptly to proper requests for electronic imagines of exception items and agree that the Bank’s failure to provide additional ACH information does not extend the deadlines you must notify the Bank with a Pay Decision or Return Decision. You acknowledge that you must fulfill its responsibilities in connection with the ACH Positive Pay Service whether or not you are open for business. The Bank is entitled to rely on the accuracy and validity of any P...
ACH Positive Pay. ACH Positive Pay lets you define partners that are authorized to send ACH entries for any, exact or maximum amounts, to your account. Any item that meets the criteria you establish will automatically post to your account. You are alerted to any exception transactions to your criteria, safeguarding you against fraudulent activity. Upon receipt of the rejected items, you can return them or conveniently add filter criteria for future electronic transactions. It is your responsibility to work your ACH Positive Pay Exceptions each business day. Positive Pay Items may be presented throughout the day. For the purposes of this agreement, a business day is defined as every day except Saturdays, Sundays, and federal holidays.
ACH Positive Pay. Like traditional Positive Pay, ACH Positive Pay provides you with the tools to help proactively prevent “unauthorized” ACH transactions from posting to your accounts. This process involves maintaining a list of “pre-authorized” ACH transactions in which our system can then automatically compare against any transactions attempting to post to your Account. Any ACH items attempting to post that are not on the list of “pre-authorized” ACH transactions are submitted to you for your decision. If your decision does not reach us within the time frame specified by the Bank from time to time, all exception items will be dispositioned in accordance with the applicable Separate Agreement. You agree that as between you and us, you will bear the full risk of loss associated with your decision or instruction. Customer hereby releases and agrees to hold harmless, defend, and indemnify Bank, its directors, officers, employees, agents, affiliates, controlling persons, agents and representatives and their successors and assigns (the “Bank Indemnified Parties”) for all ACH transactions posting to Customer’s account by reason of a Bank Indemnified Party’s inadvertence, accident, or oversight.
ACH Positive Pay. The ACH Positive Pay service is an Online fraud mitigation service which allows you to manage ACH debits posting to your business account via filters and blocks. New Online Services - Dime may, from time to time, introduce new Online Services and notify you of the existence of these new Online Services as they become available. New Online Services will be made available to you generally, at your election, upon your specific acknowledgment that the terms contained herein shall apply to those Online Services and further subject to your agreement to be bound by any new conditions required by Dime with respect to such new Online Services.
ACH Positive Pay a. ACH Policies. ACH Policies dictate which ACH debit and credit entries are paid or marked as an exception requiring review when presented against an authorized account enabled for ACH Filter. ACH Policies are configured by you and can be added, amended, and deleted through the SAND eCRM platform at your discretion and must be in place by 6:00 PM Pacific Time the Business Day prior to an item’s payment date to ensure that the system will recognize it once presented. The Bank will not define ACH Policies on your behalf and is not responsible for any errors which may occur from establishing ACH Policies to pay ACH debit or credit entries which are presented against your account.
