CashManager OnLine Positive Pay Set-Up Information

Transcription

1 CashManager OnLine Positive Pay Set-Up Information Branch Banking and Trust Company, Member FDIC. Only deposit products are FDIC insured. 2015, Branch Banking and Trust Company. All rights reserved. Revised: 10/29/2015

2 Table of Contents 1 Introduction Activating your Positive Pay Service Important Notes Issue File Import - Delimited Format File Contents Important Notes Example File Issue File Import - Fixed Format File Contents Important Notes Example File Issue File Import - CSV Format File Contents Important Notes Example File File Testing Important Notes for Positive Pay Important Notes for Payee Positive Pay Client Training Important Notes Appendix File Transmittal Form Online Training Classes FAQ

3 1 Introduction Positive Pay safeguards your accounts by detecting suspicious checks and returning them. With Positive Pay, your company tells BB&T about the valid checks issued by importing or transmitting a simple data file. This information sharing enables BB&T to validate each posted check by comparing it to your issued check data. Positive Pay flags mismatched checks as exceptions and prompts your company to make a pay or return decision through CashManager OnLine (CMOL). BB&T then safeguards your account by promptly returning the exception items even if you take no action (when a default decision of return is established). This process simplifies your efforts, protects your accounts from being compromised, and reduces the risk of financial loss. Payee Positive Pay screens and matches payee names in addition to the standard check number and amount fields and provides even stronger protection than traditional Positive Pay. Additional testing is required before this service can be activated. 1.1 Activating your Positive Pay Service The Positive Pay Service is not activated until BB&T has received your outstanding check information, if applicable, and/or your first check issue file. To notify the Positive Pay team your file is being sent, please use the Positive Pay Transmittal Form located in the appendix. Please the completed Positive Pay Transmittal form to PosPayFileTotals@BBandT.com or fax the form to BB&T at You will be notified if the totals provided on the form do not match the data received. 1.2 Important Notes Providing timely and accurate check issues can help minimize Positive Pay exceptions. Please provide check issues prior to distributing the physical checks to your payees. Issue files received or imported by 7 p.m. ET (6 p.m. CT) are processed same business day. Issue files received or imported after 7 p.m. ET (6 p.m. CT) are processed beginning at 8 a.m. ET (7 a.m. CT) the next business day. When you sign onto CMOL, the alert box will inform you if the Positive Pay file has been loaded for the day and if you have any exceptions to review. You are also able to set up notification of exception items through the Event Notification section in CMOL. Review Positive Pay exceptions each business day on CMOL at 10 a.m. ET (9 a.m. CT). Provide Positive Pay decisions each business day on CMOL by 2 p.m. ET (1 p.m. CT). The default you elected during implementation will be used if a decision is not made by the deadline. 3

4 2 Issue File Import Delimited Format 2.1 File Contents Data Format: Delimiter Options: Character, ASCII w/ carriage return Comma, Semicolon, Colon Sample Format Check Amount (with decimal) & Issue Date Data Element Field Length Content Account Number 1 13 Numeric Check Number 2 10 Numeric Check Amount 3 11 Numeric ($$$$$$$$.cc) Issue Date 4 08 MMDDYYYY Payee Data 5 40 Alpha / Numeric 2.2 Important Notes The order of the data elements can be modified by changing the value in the field column. Record lengths are displayed as the maximum for each field with the exception of the issue date field, which is equal to the length of the format selected. A comma, semicolon or colon must separate information for all fields. If the payee name in your file includes a comma (such as Ben Franklin, Jr.), please choose a delimiter other than a comma or remove the comma in the payee name before importing your file. The comma delimiter will treat the text that follows the comma as a new field of data. A check issue should be imported once and not submitted later in the day on a cumulative file. Non-check transactions should not be included in the import file. To submit voided check issues rather than added check issues, from the import issues screen simply select the cancel issues checkbox. Issue date may contain a two- or four-digit year. Payee data is required for Payee Positive Pay accounts and optional for Traditional Positive Pay accounts. The maximum value for payee data is 40 positions. If provided, the payee name will display at the BB&T teller line for checks being cashed that match in check number and dollar amount. 2.3 Example File Account Number, Check Number, Check Amount, Issue Date, Payee Data , , , ,Joe Smith , , , ,Bill Smith , , , ,Steve Smith , , , ,Margie Smith 4

5 3 Issue File Import Fixed Format 3.1 File Contents Data Format: Character, ASCII w/ carriage return Sample format Check amount (with decimal) & Issue Date Data Element Start Position Length Content Account Number 1 13 Numeric Check Number Numeric Amount Numeric ($$$$$$$$.cc) Issue Date MMDDYYYY Payee Data Alpha / Numeric 3.2 Important Notes The order of the data elements can be modified by changing the values in the start position. Numeric fields must be right justified with leading zeros. Alpha / numeric fields must be left justified with either space or blank filled. Each check issue should be imported once and not submitted later in the day on a cumulative file. Non-check transactions should not be included in the import file. To submit voided or cancelled check issues, from the Import Issues screen select the cancel issues checkbox. Account number field length can be set to 10. We recommend 13 positions in the event a new 13- digit account is added, which will be included on the same file. Amount field Existing Import Rules, with the 13-digit amount field, can continue to be used. New import rules will have an amount field of 10 digits (without the decimal) or 11 digits (with the decimal). Issue date may contain a two- or four-digit year. Payee data is required for Payee Positive Pay accounts and optional for Traditional Positive Pay accounts. The maximum value for payee data is 40 positions. If provided, the payee name will display at the BB&T teller line for checks being cashed that match in check number and dollar amount. 3.3 Example File Account Number Check Number Amount Issue Date Payee Data Joe Smith Bill Smith Steve Smith Margie Smith 5

6 4 Issue File Import CSV Format 4.1 File Contents Data Format: Microsoft Excel Sample Format Check Amount (with decimal) & Issue Date Data Element Field Length Content Account Number 1 13 Numeric Check Number 2 10 Numeric Amount 3 11 Numeric ($$$$$$$$.cc) Issue Date 4 08 MMDDYYYY Payee Data 5 40 Alpha / Numeric 4.2 Important Notes Format cells for check date and account number. Payee name can contain 40 characters. (Please do not use any special characters.) Amount can be with or without decimal. Note: If without decimal, still include the cents. Issue date may contain a two- or four-digit year. Save spreadsheet as a csv (comma delimited). Before saving, delete the header and trailer To view format, right click on icon & open in Notepad. 4.3 Example File Account Number Check Number Amount Check Date Payee Name /06/2013 ABC Company LLC 6

7 5 File Testing 5.1 Important Notes for Positive Pay If you would like to send a test file for review, please send it to TMClientTraining@BBandT.com. 5.2 Important Notes for Payee Positive Pay If you would like to send a test file for review, please send it to TMClientTraining@BBandT.com. Additional testing is needed before activating the Payee Positive Pay service. The implementation time frame varies as described below and will be extended if any challenges need to be addressed: o Existing Positive Pay account, currently sending payee name with the issued check files testing will being immediately. o o o Existing Positive Pay account, not sending payee name with the issued check files testing will begin approximately one week after we are notified the payee name has been added to your file and we confirm the payee name has been sent. Existing BB&T account testing will begin approximately one week after we are notified the first check issue file has been sent to BB&T and checks begin posting to the account. New BB&T account testing will begin approximately one week after we are notified the first check issue file has been sent to BB&T and checks begin posting to the account. Traditional Positive Pay will be provided, upon receipt of your outstanding check issues and/or new check issues, during Payee Positive Pay testing. The payee name provided in your issued check file will display to the teller for checks cashed that match the check number and dollar amount. You will be notified by prior to the Payee Positive Pay service being activated. Detailed information about the exception types will be provided at that time. If the Payee Positive Pay service is activated prior to these steps being completed, you may receive an unusual number of payee exceptions on CashManager OnLine and your payees may experience difficulty cashing checks at the teller line. 7

8 6 Client Training 6.1 Important Notes BB&T provides training for CashManager OnLine through online training classes both live and ondemand. All classes require registration and use a web conferencing site at the following URL: Click on the name of a product. (Note: For CashManager OnLine Positive Pay, click on BB&T CashManager OnLine) Select Live Sessions or Recorded Sessions To register for Recorded Sessions: Click on a title Click View Complete the Registration Form; click on Register The session will begin playing (the audio portion will transmit via your computer s speakers). 8

9 To register for Instructor-led Live Sessions: Choose one of the tabs for Today, Upcoming or Weekly sessions Click on the name of a session Click on Register Choose a session date Complete the required registration information; Click Register A confirmation page will display, and an with the session information will be sent to the address provided at registration. Further information on the available training classes can be viewed on the Training Calendar in the Appendix. To schedule additional training, please contact our Treasury Client Support line at , Option 1, Option 2. One of our agents will be happy to schedule a training session for you. 9

10 7 Appendix 10

11 Positive Pay Transmittal *(Optional) Please the transmittal information to or fax this transmittal to BB&T at You will be notified if the totals provided on this transmittal do not match the data received. Contact Name: Contact Number or Address: File Sent: Date: Time (optional): *New Payee Positive Pay clients please notify BB&T of the following changes: Payee name has been added to our Issued Check File. Our first Issued Check File or Outstanding Check Issues have been sent. Account # (Last 5 digits) Account Name Check Range (Optional) Issues or Voids Total Items Total Dollars Ex: Sample Issues 25 $1,

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13 Frequently Asked Questions: 1. Can I display a report showing the Positive Pay import file I submitted yesterday? Yes. There are two reports for the Positive Pay module. One report displays a summary of any manual item files submitted. The other one is available to reflect a Summary Only of the file import information. From the Positive Pay module, select reports. There should now be five reports listed in the display. If only three are displayed, select Configure My Reports and check the two additional reports to display them. If there are not any reports displayed in this list, contact your administrator and ask to have those reports shared to you from the user modification options. 2. What are the different ways to transmit a Positive Pay file other than through CashManager OnLine? Clients can transmit Positive Pay files to BB&T by FTP (Three different methods: FTP with Secure Shell FTPSSH; FTP with PGP encryption; FTP with Secured Sockets Layers) as well as through a dedicated mailbox using https. 3. How many characters can a client send for the payee name? A client can send 40 characters of payee name if using CMOL Import. A client can send 80 characters if using transmission. A client must be sure the payee field is included in their format or the characters will not be stored on Positive Pay. Any Positive Pay client can provide the payee name even if not using Payee Positive Pay. The name will be displayed to the teller for checks being cashed that match in dollar and amount. 4. Check numbers on my bank statement are wrong. Why didn t Positive Pay correct the check numbers? Positive Pay is an after posting process. Checks post to the account, then they are reviewed through Positive Pay. Any check numbers or amounts sent incorrectly by the bank of first deposit (or captured by BB&T incorrectly) are corrected. If an amount correction was needed, the client would receive a credit or debit for the difference usually the day after posting. These corrections are not updated on the deposit system. The incorrect check number or amount will appear on the bank statement, on CashManager OnLine, Prior Day BAI transmission, CD-ROM and any other services where the source is the deposit system data. Updated check numbers and amounts are provided on our reconciliation reporting (full and partial reconciliation). 5. I see a check number on my bank statement for a fraudulent item. Why didn t Positive Pay catch this item? Positive Pay is an after posting process. A check will post to your account. Then the Positive Pay service detects the check number and amount do not match the issue data you provided. The check is released to you as a Positive Pay exception. You will see the item is fraudulent and provide a return decision. The Account Reconciliation team returns the check the day the decision is provided and a credit is processed (called a debit reversal). The Positive Pay process does not update the deposit system data. The check will remain as it posted on any application that receives data from the deposit system (such as the bank statement, CashManager OnLine, CD-ROM, Prior Day BAI Transmission). If you need to receive the updated data, you would subscribe to Account Reconciliation reporting (full or partial reconciliation). 13

14 6. Do I need to go in and review Positive Pay every day? Positive Pay needs to be checked daily between 10 a.m. and 2 p.m. to make sure you do not have any exceptions/decisions that need to be made. If you have event notifications, you can set a notification to tell you if you have decisions every business day (except holidays) and then you would not need to logon to CashManager OnLine to check Positive Pay since the notification will come into your inbox. 7. What happens if I don t check Positive Pay or make a decision before 2 p.m.? If you do not make a decision by the 2 p.m. cutoff, the item will automatically be returned. 8. What happens if you have Positive Pay and you initiate a Bill Payment on Small Business OnLine? Online Bill Payment has rules regarding the payment method that will be generated: ACH or a paper check. If a paper check is created, the check issue information will be automatically submitted to the Positive Pay service by OnLine Banking at the end of the day. 9. Do I need to add a positive pay check issue to CashManager OnLine for a bill payment I made through BB&T s Small Business Online? The Small Business Online service automatically creates and sends a check issue record to your CashManager OnLine Positive Pay service for all checks we generated and printed. 10. Why must I notify you that my first file has been submitted? Doesn t the system know that? The purpose of the file transmittal /fax is to inform our Account Recon area the client is ready to go live on Positive Pay. 11. What if I don t write checks on this account, do I still need a file? Even though checks are not written on the account, it would be best to make the account live for protection anyway. Our Account Recon area is able to make an account live (active/not issuing checks) even though an upload is not done. 12. Why doesn t it accept the report I get from Quickbooks? Positive Pay files have certain specifications. Most of the information provided by QuickBooks will be accepted; however, some formatting will be required. 14