Process of Posting

Process of Posting. The “process of posting” means the usual procedure followed by a payor bank in determining to pay an item and in recording the payment including one or more of the following or other steps as determined by the bank: (a) Verification of any signature; (b) Ascertaining that sufficient funds are available; (c) Affixing a “paid” or other stamp; (d) Entering a charge or entry to a customer’s account; (e) Correcting or reversing an entry or erroneous action with respect to the item. Source: PL 3-56, § 1 (§ 4109).