Positive pay

From ACT Wiki
Revision as of 12:23, 28 March 2016 by imported>Doug Williamson (Add abbreviation.)
Jump to navigationJump to search

(PP).

Banking.

A service used to combat cheque fraud. The bank pays only those cheques with serial numbers and cash amounts that match those in an issue file supplied by the company.

Also known as match pay.


See also

Retrieved from ‘https://wiki.treasurers.org/w/index.php?title=Positive_pay&oldid=37797’