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FYI this is called Positive Pay (at least for checks, although it looks like some banks offer ACH Positive Pay). We upload a file daily to our bank that says "y
by chewmieser 8y ago
FYI this is called Positive Pay (at least for checks, although it looks like some banks offer ACH Positive Pay). We upload a file daily to our bank that says "you can allow these check numbers to go through," and anything else would be rejected.
- amluto 8y agoRight, I know it had a name. I find it rather surprising that Reg E mostly doesn't protect business accounts. IMO if an account doesn't have Positive Pay or a similar protection, then that account should get the full benefit of Reg E protections. This would probably give the banks a nice incentive to implement Positive Pay for free for all business accounts, since Reg E can be expensive and complicated for the banks.