Positive Pay
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What is the Positive Pay service?Positive Pay is a fraud detection service that compares a check presented for payment against the check issued data provided to F&M Bank in advance.View Answer What is the Positive Pay service View Answer Close What is the Positive Pay service Close
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What is an exception?An exception is a check item that does not match the check issued data and requires a pay or return decision.View Answer What is an exception View Answer Close What is an exception Close
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What is the cut-off time requirement?2:00PM PT is the cut-off time to make a decision on the exception item(s).View Answer What are the time requirements View Answer Close What are the time requirements Close
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What reports are available?The Transaction Reports tool offers several report types to choose from such as All Checks, Paid Checks, ACH Transactions and Check, Deposit and Account Reconciliation Summaries.View Answer What reports are available View Answer Close What reports are available Close
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How do I access the Positive Pay service?The Positive Pay service can be accessed through the "Integrated Menu" menu within Online Banking for business accounts under "Services."View Answer How do I access the Positive Pay service View Answer Close How do I access the Positive Pay service Close
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How do the transactions reflect on my account?The transactions will post to the account and returned decision items will reflect a return.View Answer How do the transactions reflect on my account View Answer Close How do the transactions reflect on my account Close
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What is the main difference between the former and new Positive Pay service?The new Positive Pay service is an enhanced, self-service, online system that allows users the ability to run their own reports, manage their own exceptions, submit transactions individually or as a file and export data. Positive Pay is a next day system. Exception items will be posted to the clients' accounts as paid and resolved (pay or return) the following business day.View Answer What is the main difference between the former and new Positive Pay service View Answer Close What is the main difference between the former and new Positive Pay service Close
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How much will the Positive Pay service cost my business?View Answer How much will the Positive Pay service cost my business View Answer Close How much will the Positive Pay service cost my business Close
Please refer to the current Services and Fees schedule for the current fees. Clients using the Positive Pay service must be enrolled in F&M’s Online Cash Manager.
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May I include payee information with my Positive Pay files?Although the primary identifiers used for validation are amount and check number, Positive Pay users may provide payee information for additional reference.View Answer Can I include payee information with my Positive Pay files View Answer Close Can I include payee information with my Positive Pay files Close
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When and how will I be notified if there are exceptions to review?An email notification will be sent 90 minutes before the cut-off time of 2:00PM PT.View Answer When and how will I be notified if there are exceptions to review View Answer Close When and how will I be notified if there are exceptions to review Close
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What will happen if I do not review the exception items?The exception items will resolve under the default decision, as per your agreement. Please refer to the current Services and Fees schedule for the related fee.View Answer What will happen if I do not review the exception items View Answer Close What will happen if I do not review the exception items Close
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How do I inform F&M Bank of issued check item(s)?Check issued items can be input manually or a file can also be uploaded of any checks issued.View Answer How do I inform Farmers and Merchants Bank of issued check items View Answer Close How do I inform Farmers and Merchants Bank of issued check items Close
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What methods are available to submit the Positive Pay file to the Bank?Files can be submitted through manual input, file upload and a SFTP (secure file transfer protocol).View Answer What methods are available to submit the Positive Pay file to the bank View Answer Close What methods are available to submit the Positive Pay file to the bank Close
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What formats are compatible with the Positive Pay file upload?Excel®, text, CSV and fixed length are all compatible formats.View Answer What formats are compatible with the positive pay file upload View Answer Close What formats are compatible with the positive pay file upload Close
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Who do I contact for questions?Please contact Cash Management at (844) 782-7311, Monday-Friday from 8:00AM to 6:00PM, and Saturday from 9:00AM to 12:00PM, PT for any questions.View Answer Who do I contact for questions View Answer Close Who do I contact for questions Close
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Can I void a check through F&M Positive Pay instead of placing a stop payment?Voiding a check through Positive Pay does not guarantee the check will not be negotiated. A stop payment must be placed through F&M Online Banking, by calling the Client Care Center or at a local Branch Office.View Answer Can I void a check through FMB Positive Pay instead of placing a stop payment View Answer Close Can I void a check through FMB Positive Pay instead of placing a stop payment Close
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Why am I receiving exception items with an incorrect check number?This is an encoding error and can occur for any of the following reasons:View Answer Why am I receiving exception items with an incorrect check number View Answer Close Why am I receiving exception items with an incorrect check number Close
- Obstructions of the check number within the MICR line (the name for the routing number, account number and check number) at the bottom of your check. Examples of this are writing, folds and smeared ink in the MICR line area.
- Incorrect MICR ink or paper stock used when printing the checks.
- Incorrect entry of the check number by the bank that processed the initial deposit.