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Byline Bank
Business Online Banking
Positive Pay & Payee Positive Pay
Byline Banks’ Positive Pay service helps your company control losses
from check fraud. Because we only honor checks that match the
information provided by your business, you can feel confident only
authorized payments will remain paid. A default decision (e.g. “pay” or
“return”) is selected at implementation.
How it Works
1
Each time your company issues a check(s), an issue file must be
created and sent to the bank. The file contains the check number,
dollar amount, issue date and *payee name.
Tip:
The check issue file should be submitted to Byline Bank on the
same day the checks are written.
*Payee name is only required with the Payee Positive Pay service.
2
As checks are presented for payment, they are verified against your
issue file.
3
Each day you will receive a report via Business Online Banking
listing checks presented for payment that do not match the check
issue data. This list will be delivered to you by 9:15 AM CT (known as
the “notification deadline”).
4
You tell us to pay or return the suspect item(s) by logging into
Business Online Banking. If we do not hear from you by 12:00 PM CT
(known as the “decision deadline”), we will follow the default
disposition instructions you selected during setup.
5
If requested, at the end of your statement cycle, the account
reconciliation team will prepare a full or partial check reconciliation
for your account.