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Payable through drafts

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Payable through drafts
A method of making payment that is used to maintain control over payments made on behalf of the firm by personnel in noncentral locations. The payer's bank delivers the payable through draft to the payer, which must approve it and return it to the bank before payment can be received.


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Decision Support has been designed to offer the added benefits of image technology to several key cash management products -- such as Positive Pay, Controlled Disbursements, High Dollar Review and Payable Through Drafts -- typically offered to corporate clients.
By reducing the handling of paper items to one pass, it reduces errors and allows us to offer new check image services to our customers such as CD-ROM delivery, Image Positive Pay, Payable Through Drafts and other Comerica products under development.
Northern Trust will use the CheckVision system to offer a range of new, image-enhanced products including payable through drafts, controlled disbursements, positive pay, and Account Reconciliation Processing (ARP).
 
 
 
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