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In addition to providing you with a method of fraud prevention on your account, the positive pay system can also double as a reconciliation tool. As a result of you providing the bank with a list of issued checks, the bank is able to generate month-end reports that can aid with the reconciliation process.
Did the customer authorize the bank to honor the check, notwithstanding the signature, as part of a cash management service (e.g., Positive Pay)? (2) Customer ratified the transaction. A bank is not liable for paying a forged check if its customer approves the transaction, ratifies the forgery, or is otherwise precluded from making a claim (e.g., where the customer intentionally fails to