G l o b a l Tr e a s u r y M a n a g e m e n t
Disbursement Payee Positive Pay
Minimize check fraud
If you’re issuing a large number of checks, you need protection against check fraud.
Key’s industry-leading Payee Positive Pay service compares items presented for
payment against check issue information you provide to us. Checks that do not
match your pre-approved list of checks are reported for review and payment decision.
How it Works
• You’ll transmit to Key the check account numbers, serial numbers, dollar amount,
and as an option, payee name information as checks are issued. This information is
added to our Account Reconcilement system.
• As checks are presented to Key for payment, the check information is read and
compared to the issue filed that you’ve provided to us. We compare four criteria in
the daily verification of checks presented for payment:
1. Check serial number not on issue file
2. Conflicting dollar amount
3. Duplicate presentment
4. Cancel/Void on file
Optional criteria are also available for an advanced level of service:
1. Payee name
2. Stale-dated items
3. Exceeds dollar limits
4. eChecks
•Checks presented to Key that do not match your issue information are reported to
you through Key Total Treasury (KTT) — our Internet delivery channel — for review
and payment disposition.
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• You’ll be able to view check images of Positive Pay “exceptions” via KTT same day.
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Benefits
• Payee Positive Pay provides a premium layer of fraud detection by identifying
Payee Name alterations, allowing you to optimize fraud control
• Same Day Positive Pay allows you to stop the payment of exception checks prior
to account posting, reducing fraud from entering your account
• Internet delivery of Positive Pay reports and images of exception checks
allows quick access from any of your office locations
• eCheck ACH items can be reported to you for any check that is converted into an
ACH payment by billers, retailers, utility companies, etc.
What Sets Key Apart
• Key is one of the elite Positive Pay providers in the U.S. offering Same Day
Positive Pay, Payee Positive Pay, and Teller Payee Positive Pay
• As part of Key’s Positive Pay services, you’ll benefit from fraud detection at our
KeyCenter teller line with Teller Positive Pay and Teller Payee, reducing check
fraud at all points of check presentment
• Having both Same Day and Next Day Positive Pay service levels (with Controlled
Disbursement Services) gives you two days to review “suspect” items for pay and
return decisions
• Consolidated check and eCheck fraud detection on one report gives you
complete protection
Why Choose Key
Key is one of the top cash management providers in the U.S. and is heavily
invested in new technology. We offer a full range of services to help you become
more efficient and productive. We have earned the trust of clients both large and
small with our dedicated commitment, extensive resources and expertise. We offer
the solutions and depth of experience needed to achieve your business goals.
Contact Us
To learn more about the Disbursement Payee Pay services and how
they can maximize your organization’s effectiveness, please contact your
Treasury Management Professional. For general information, please visit
our Web site key.com/globaltreasury or call us at 1-800-821-2829.
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JSPD-0347 Rev. 10/07