Secure-Check Transmission  (Positive Pay® ):  

We recommend that all users implement daily electronic bank records of checks cut each day Headline news over the past few years has reported numerous problems with the integrity of records. It is estimated that every day 1.2 million fraudulent checks are written.*  Notifying your bank of all checks and check amounts will combat internal and external fraud. With the secure check transmission, your company incorporates a key piece of the due diligence necessary to eliminate debits for fraudulent checks.

LexPay builds the file from the check batches and manually entered checks for electronic transmission for your bank. Each file is formatted per your bank’s specification. The setup allows the user to indicate which data to send for the optional fields by bank account and check type. File totals or batch totals are incorporated, as specified by your banking partner.

Checks are tracked as processed to build a full audit trail with date-time and user stamps. Checks voided after printing and transmission are flagged for inclusion with the next bank transmission. The revised status of each check is recorded.

Multiple batches can be combined into one transmission. Multiple accounts from the same financial institution can be combined into one transmission.

Encryption of all transmissions is highly recommended.

Reconciliation:

LexPay also imports the bank’s daily reports of checks cashed and reconciles your accounts for a full reconciliation cycle. The audit record for each check details all processes and changes in status.

* According to “Protection Against Check Fraud”

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