Same Day Positive Pay
Same Day Positive Pay works in conjunction with controlled disbursement services. CDAs allow you to have Same Day Positive Pay services because possible exceptions can be reported to you prior to posting, which provides an extra day of decisioning time.
Same Day Positive Pay services compare your issue file of checks to the items presented for payment. Any discrepancies are reported on the same day report, along with additional details, the reason the item was flagged for review, and a link to view an image of the item (e-check images are not available). Items are ready for review at 12:00 p.m. local time where the account resides at Key. All pay or stop decisions must be made by 6:00 p.m. ET (5:00 p.m. CT, 4:00 p.m. MT, and 3:00 p.m. PT) the same business day, regardless of where the account is located.
Same Day Positive Pay exception items will post to your account that evening unless the payment is stopped or if your default decision is ‘Stop-All.’ Items can be re-decisioned prior to the deadline. For example, if you initially stop an item but then decide to pay it, you can change the disposition of that item before the deadline. Default decisions (‘Pay-All’ or ‘Stop-All’) are set at the time the account begins using Positive Pay. That default can be changed later by contacting your Treasury Services Payments Advisor. The default indicates your intended disposition for any un-decisioned items at the deadline.
2.2 Making Pay/Stop Decisions for Same Day Positive Pay
To make pay/stop decisions for Same Day Positive Pay exception items on a daily basis:
- Select the ‘Same Day Positive Pay’ link from the Account Management main page.
- Use the dropdown menu to select an account.
- Click ‘go’ once the appropriate account has been selected.
- A list of exception items will be displayed. In this example, the account has a ‘Pay-All’ default so items are presented for possible stop.
- From this screen you can make individual pay/stop decisions by using the checkboxes to select which items on this page to stop and then clicking ‘next.’ Be sure to review all of the pages of the report. You can also view an image or additional details for the suspect items, by clicking on the camera icon for the item that you wish to view.
NOTE: E-checks have been converted from paper items to ACH transactions; therefore, there are no associated images. Clicking on the e-check camera icon will provide additional details, including the type of ACH transaction. If you do not wish to have paper checks converted to ACH transactions, please ask your Treasury Services Payments Advisor about Key’s Electronic Payment Authorization (EPA) service.
If an image for a check (not an e-check) is not available, please contact Key’s Commercial and Business Banking Center (CBBC) at 800-539-9039 and notify the representative.
- Review the information provided on the Review Information screen. Those items requiring a second approver will be identified. You can make changes to your decision by selecting ‘edit,’ or selecting ‘submit’ to process items according to the pay or stop decisions selected.
- Once ‘submit’ is selected, you will receive a Same Day Positive Pay Confirmation screen. Any items that could not be processed according to your instructions will be identified. From the confirmation screen, you can go back to the Account Management main page by selecting ‘main page,’ or return to the Positive Pay screen by selecting ‘done.’
- You have until the deadline to change the disposition of an item. After the deadline items are paid or stopped based on your decisions or by your default.