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POSITIVE PAY delivers real-time, check fraud detection at the teller line! You provide us with your <br />check issuance information (check serial numbers and dollar amounts) then we match it against checks <br />presented for payment. Any discrepancies between the checks presented for payment and the checks <br />listed on your check issue file are identified and delivered to you electronically for a pay or return <br />decision. While many banks offer partially functional Positive Pay protection that can only detect check <br />exceptions when they are presented through a check collection system, Hibernia provides a total <br />solution that also detects fraudulent checks as they are presented at Hibernia's teller windows. Your <br />losses are minimized by the inclusion of this crucial real-time checkpoint. Benefits: <br /> · Reduces losses by preventing third-party check fraud. <br /> · Detects fraud at the time of presentment providing real-time protection. <br /> · Enhances check issuance control. <br /> · Decrease fees when combined with partial or full reconciliation service. <br /> <br /> The check issue information can be sent via TowerNet, FTP, ADP or mainframe transmission. <br /> The check issue files must be sent each day that checks are issued and must be received by the <br /> bank by 2:00 p.m. (CT) for next day processing. <br /> <br /> TowerNET provides for transmittal of individual check information or deletes. These items are <br /> processed at 8:00a.m., 10:30 a.m., 1:00 p.m. and 4:00p.m. The updated information goes out over <br /> the Hibernia within the hour. <br /> <br /> How is the Positive Pay Exception Report (i.e., list of paid without issue items, etc.) delivered to <br /> the client and by what time? <br /> An electronic report is delivered to the customer via TowerNET by 11:00 a.m. (CT) each business <br /> day. The report will indicate "No exceptions today" if there are no exception checks for a particular <br /> day. <br /> <br /> How are pay/return decisions documented by the client and by what time are they required? <br /> Pay/return decisions are indicated via TowerNET and returned to the Bank by 2:00 p.m. (CT). If <br /> pay/return decisions are not received from the client by 2:00 p.m. (CT), the exception checks will be <br /> handled, on that banking day, according to the default decision (pay or return) selected by the client <br /> on their Positive Pay Service Addendum. <br /> <br /> Will the client receive confirmation of the pay/return decisions they have indicated on <br /> TowerNET? <br /> <br /> Yes. The client will receive a receipt on TowerNET confirming their pay/return decisions. <br /> <br /> What back-up will be used to deliver the Positive Pay Exception Report if TowerNET is not <br /> available at the required time? <br /> The Positive Pay Exception Report will be faxed to the client if TowerNET is not available at the <br /> required time. The customer will indicate their pay/return decisions on the pages faxed and will fax <br /> the information back to the ARP Department by 2:00p.m (CT). <br /> <br /> Can the client obtain a copy of an item if they need a copy to determine the pay/return <br /> decision? <br /> Yes. The client must request these copies by 12:00 p.m. (CT). The copies will be faxed to the client. <br /> <br /> <br />