Positive Pay System definition

Positive Pay System or “PPS” means the process of reconfirming key details of large value cheques, where the issuer of the cheque submits to the Bank electronically (through channels like SMS, mobile banking, internet banking, ATM, etc.) or in writing or in any other mode permitted by the Bank from time to time (subject to the guidelines of RBI), requisite minimum details of the corresponding cheque issued by the issuer (such as date, name of the beneficiary/payee, amount, etc.) and the terms “Positive Pay System instructions” or “PPS instructions” shall be construed accordingly.
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Positive Pay System means accessing the website for Positive
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Positive Pay System means accessing the website for Positive Pay Services
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Examples of Positive Pay System in a sentence

  • The Positive Pay System is capable of mapping Check Files created from multiple software programs.

  • Company will review the Exception List each Business Day by 3:00 p.m. CT through the Positive Pay System, otherwise Company’s chosen default option will be applied.

  • Furthermore, if you do not log on to the Positive Pay System or have not had any transactions processed through such system over a period of 6 months, your access to Positive Pay System may be suspended or canceled by Valley Strong Credit Union at its sole discretion, but the Credit Union shall not be liable to you for its failure to do so.

  • To provide restricted and protected access to the Positive Pay System and to ensure secure communications within Positive Pay System, Valley Strong utilizes a unique Digital Certificate for ▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ The Credit Union will also deliver to you such Login ID(s) and PASSWORD(s) to access the Positive Pay system through ▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, as you may request.

  • If Company issues a stop payment order on a check that was listed in an Issued Check File, check will be considered matched in the Positive Pay System.

  • We reserve the right to block access to Positive Pay System to maintain or restore security to our site and systems, if we believe your access codes have been or may be obtained or are being used or may be used by unauthorized person(s).

  • You shall at all times indemnify, defend and hold us and our service providers harmless from and against all actions, proceedings, claims or loss, damage, costs and expenses (including reasonable attorney fees) which may be brought against us or our service providers or incurred by us or our service providers which arise in connection with the instructions received by the Positive Pay System relating to your account.

  • To further restrict and protect access to ▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ and the Positive Pay System, Valley Strong will also deliver to you (or to your designated Positive Pay Administrator, where applicable) as many Users IDs as are requested in the Application or through Positive Pay System).

  • We undertake no obligation to monitor access to ▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ or transactions through Positive Pay System to determine that access or services are made by an Authorized Person, and we will not be liable for any loss or damage suffered by you because of any misuse by unauthorized persons.

  • You should never leave your account information displayed in an area accessible by others and should never leave a logged-on terminal unattended while using Positive Pay System.

Related to Positive Pay System