Positive Pay Payment Format
The Electronic Bank Payments SuiteApp enables your banks to verify check issuances by generating a file format that contains a list of checks issued by your company which the bank can use to deter check fraud—a service known as Positive Pay. The following Positive Pay templates are available:
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BoA/ML – Bank of America Merrill Lynch
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RBC – Royal Bank of Canada
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SVB-CDA – Silicon Valley Bank - Controlled Disbursement Accounts
For more information, see Verifying Issued Checks with Positive Pay.
Note:
Positive Pay templates BoA/ML, RBC, and SVB -CDA are available for all countries even without an active Electronic Bank Payments license.