When do I have to approve Positive Pay issues in the Recon Management service?
Starting Tuesday, September 5, 2023, you can approve your Positive Pay decisions in Online Banking for Business Recon Management service between 9:30 a.m. and 3 p.m. CT.
Approving Positive Pay issues works a little differently in Online Banking for Business. Here’s quick summary of the changes you can expect.
- Positive Pay issue records requiring dual approval will expire the same day if they’re not approved in Online Banking for Business by 9 p.m. CT.
- Manual issues and voids requiring dual approval need to be entered and approved on the same day. If they’re not approved by 9 p.m. CT, they won’t be transmitted and will be deleted.
Note: Starting Tuesday, September 5, 2023, the default decisions for Positive Pay will be set at the account level. Your current TreasuryNow default decisions will move to BMO Positive Pay. If you need to change the default decisions, please contact your Bank of the West business banker or relationship manager.
What do I need to do?
Before Tuesday, September 1, 2023 at 9 p.m. CT, please make sure to take action on all existing Positive Pay issue records in TreasuryNow that require dual approval.
Need more information about Positive Pay and our Recon Management service?