It's time to Max out your rewards with Infinity Pro+.
Your team is excellent at monitoring your money and making sure that it’s all in the right place—but they shouldn’t have to!
Manually balancing your books and tallying your transactions is a thing of the past. With Positive Pay/Account Reconciliation, your business banking accounts are being scanned in real time, making sure that every dollar adds up … and makes sense.
If anything seems unusual, you get alerted and you can review the questionable deposit, withdrawal, scheduled payment, or other flagged transaction.
The bottom line is that your bottom line will always add up (or you’ll know right away, and we can help you spot the issue and fix it). Until then, your team can focus on other important matters—like how to grow those sums going forward.
Benefits & Features
Benefits of this state-of-the-art system include:
- Real-time reporting
- Automatic error detection
- Inconsistency flagging
- Time-saving security
Protect your accounts today—ask us how to get started.
Positive Pay FAQ
Positive Pay is a tool business clients can use to prevent check and/or ACH fraud.
Upload a list of issued checks and/or ACH debits to the Positive Pay system via Business Online Banking. The system then compares inclearing items on your account(s) with the information uploaded to the Positive Pay system. If there is a discrepancy the item rejects and you will receive a notification that item(s) need to be reviewed. You then log into Business Online Banking, review the item, and decide whether the item should be paid or returned. If a rejected item is not reviewed prior to 10AM it is returned.
You can login and upload new information to the system as often as you like. If the Positive Pay system receives the information prior to the item posting, there will be no issue.
If a check is written after a file has been submitted, you can either upload an updated file or submit the check individually as a “one-off” through the Positive Pay system.
A signed Positive Pay Application and Agreement and a sample file that you will be uploading to the system needs to be emailed.
The most direct way for you to obtain a file is to use some sort of accounting/bookkeeping software. Most software provides you with an option to export a file containing the necessary information. Manasquan Bank does not provide files to the you to use.
The file must contain, at a minimum, the check number and amount. If you elect to include Payee Match the payee information must also be included.
Yes, there is a $25.00 one-time setup fee, a $25.00 monthly service fee and if Payee Match is added to the service there is an additional $20.00 per month fee for that feature.
Yes, there can be multiple users for the Positive Pay system. Roles can also be separated out so you may have one user that can only upload files and a different user that can only decision rejected items. We suggest a minimum of 2 users for the Positive Pay system.
The cutoff time to decision a Positive Pay item is 9:59AM.
No, the system users receive an email first thing in the morning indicating an item(s) has rejected. A second reminder email is sent at 9AM letting the user(s) know that they have less than an hour to make a decision. The Bank does not contact you in any way regarding items that have not been reviewed. If a decision has not been made and the system not updated prior to 10AM the item(s) is returned as REFER TO MAKER.