Business account fraud is a reality in our community.
How Can You Protect Your Accounts?
- Increase control of your business accounts by creating awareness of unexpected account activity
- Reduce your risk of financial loss due to fraud
- Increase the security of your account by only authorizing certain debits
In order to protect your accounts at FSB, we offer Positive Pay and ACH Filter as fraud mitigation services for business customers. With these services, you are in control of what checks and electronic items clear your account. You will no longer need to wait for a bank statement or review all transactions to see if your account has been compromised. With Positive Pay and ACH Filter, FSB will notify you if there is a discrepancy in your account. As you write checks, you will load the payment information to FSB. Then, as checks clear the account, FSB will compare the check clearing to the payment information you have loaded. If the amount, check number, and issue date don’t match, you will be notified.
With ACH Filter, you can now control who takes money from the account. You will create a preauthorized list of those vendors that are able to debit from your account. If an electronic item tries to clear the account that is not preauthorized, you will receive a notification to approve it.
These services are critically important to help keep your business accounts safe from fraud.
To start enjoying the peace of mind that Positive Pay and ACH Filter can offer, contact Shelley Schroeder.
Treasury Management Officer