Improve daily cash forecasting and investment opportunities through early notification of daily disbursements funding requirements.
Controlled Disbursement Account service is a check presentment service designed to help you minimize idle balances and tighten account management with minimal administrative involvement. The Controlled Disbursement service provides early same-day notification of your check clearing totals, allowing you to precisely fund disbursement activity, enhance investment opportunities or reduce borrowing requirements.
Through our companion Account Reconcilement services, we can help you monitor outstanding Controlled Disbursement checks to detect fraud and mitigate disbursement risk. Choose between two plans available:
Paid Only Plan provides your organization with a partial reconcilement of disbursement accounts. You receive complete reports of all checks paid against your account during the reconcilement period, along with check number, dollar amount, and paid date for each paid item.
Issue Plan is accurate and detailed, offering full reconcilement of your organization's disbursement account. With this option, you transmit a check issue file to PNC, which details the check number, check amount and the issue date for each item issued during the period. PNC compares this file to the items paid against your account to create paid and outstanding check reports. Check-payment errors (encoding errors, misposts, etc.) are identified and corrected by Bank personnel prior to generating reports.
Positive Pay is an excellent way to maintain tight control of check issuance and payment and complements the internal security measures you employ against unauthorized checks. Positive Pay is an efficient way to help maintain tight control over check issuance and payment by matching the checks that should be presented for payment against the checks that have been presented for payment. Now, through our PINACLE® Positive Pay Module, you can have timely access to your Positive Pay exception items and reduce your exposure to disbursement risk.
|Learn more about PNC's Controlled Disbursement Account - download the Product Sheet.|
For details on enrolling in PNC's Controlled Disbursement services, contact your Treasury Management Officer.Click here to review the PNC General Disclosure.