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Payee Positive Pay

Linda Jilek

Has anyone successfully implemented a Payee Positive Pay solution using Financial Edge? The requirements I received from both Chase and Bank of America are very specific with respect to the fonts and placement of the information. The current check templates that we use from FE do not appear to comply with their requirements. I'm just wondering if anyone has been able to make it happen. We've been hit with check fraud and have fortunately been able to rely on regular positive pay but just last month, we got hit with someone who intercepted a check in the mail and it passed the positive pay filter because the payee is not something that is checked. It's only a matter of time before we're hit again. Thanks for your help!

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Comments

Dawn Ariza

@Linda Jilek we are able to download a check register and upload a specific file format to our bank that includes account number, check number, date issued, amount and payee. I would have to ask my team but we take the FE information and format it as needed by our bank and the upload. FE does not upload directly.

Linda Jilek

@Dawn Ariza
That's what we do currently but the bank does not verify the payee name against the file we submit. Does your bank? In order to do so, the banks require the check be printed on check stock from their vendor, the font must be 12pt Courier New or Arial, the payee name must be all upper case and the words Pay to the Order of have to be in a specific location. The current file layouts for check printing out of FE do not conform to their requirements. I'm trying to find anyone who has successfully implemented Payee Positive Pay which is a different banking product than Check Positive Pay.

Dawn Ariza

@Dawn Ariza
For the most part we enter all of our vendors name in caps but we do have some that are mixed with upper and lower case. We use First Republic Bank which is now owned by Chase. We have never had a problem with matching the check to the file we upload with the exception of names that are more than a certain number of characters. Those will come up on an exception from the bank and I can manually approve. Sorry your having such a difficult time with something that should be easy to do.