Hi all,
We are planning on paying our suppliers via an 820 transaction to the bank.
At the end of the day, we will send an 831 (Application Control Totals) to
the bank giving the total number of payments sent and the total dollar
amount. This was to create the "checks and balances" needed to cover
fraudulently created payments. Our bank is now saying that whether we give
them an 831 transaction or not, they want us to call in our totals each day
before they will disburse the funds. This appears to be an unnecessary
manual process, given the checks and balances we have within our system.
Has anyone else encountered this problem before? Is it totally unreasonable
for us to believe we can eliminate the daily call to the bank?? Our bank is
pushing back very hard to force us into this daily call. Has anyone else
encountered these problems, and if so, how did you overcome them?
Thanks in advance, again!!!
Debbie Shaver
[EMAIL PROTECTED]
206.318.8739
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