Positive Pay and ACH Filter

The combination of Positive Pay and automated account reconcilement services have become important tools to help our corporate clients keep track of their daily transactions and better monitor and detect unusual or unauthorized activity. Positive Pay compares paid items against issue information to identify any discrepancies and to determine authenticity.

Arbor Bank’s Positive Pay system has the ability to catch the following errors and potential fraud attempts:

• Check number discrepancies

• Dollar amount discrepancies

• Missing items

• Voided checks

• Duplicate items

• Stale Dated Items (180 days past issue)

Positive Pay does not identify any discrepancies in payee names.

Key Benefits for your Business:

• Reduced exposure to fraud – Ability to identify unauthorized transactions, including counterfeit or altered checks before final payment.

• Easy to use – Exception items are viewed online. You decide which ones should be paid through our online portal. Upload features streamline your process.

• Peace of mind – All issued and voided items you add into Arbor Bank Positive Pay by 6:00 pm CST will sync with our teller system. With proper use of the system by adding all issued items, our staff will not cash a presented check unless it matches an issued item.
   

Help Prevent ACH Fraud - Electronic fraud prevention is essential in an era that sees more than 70 billion Automated Clearing House (ACH) transactions initiated each year. ACH fraud has mushroomed—and under National Automated Clearing House Association rules, your business has only 24 hours to return fraudulent business-to-business ACH transactions.

All that is needed to commit ACH fraud is the account number and the bank routing number taken from an unsuspecting victim’s check. The most common type of ACH fraud occurs when criminals use another party’s bank account information to initiate a payment over the phone or internet for products and services. ACH Filter helps protect your funds, allowing only ACH transactions from the parties you authorize, within the dollar limits you designate, to clear your accounts.

Here's How ACH Filter Helps Keep Accounts Safe:

• Lets you choose to allow or return ACH debits based on criteria you define.

• Allows you to easily set up your approved company list. You can identify business partners to debit your account within the dollar limits you specify.

• Our system will automatically send you email alerts when an ACH item hits your account and doesn’t meet the ‘safe’ criteria you’ve previously entered.

• We can also help set up an ACH Block to automatically return all debits if your account will never have any ACH activity.

Key Benefits for your Business:

• Reduced exposure to fraud – Ability to identify unauthorized transactions before final payment.

• Easy to use – Exception items are viewed online. You decide which ones should be paid through our online portal.

• Peace of mind – ACH Filter consistently monitors your account for fraudulent activity so you can spend time on other priorities.

Click Here for a Demo

Contact the Treasury Management Team
Click Here to email or call: 402-800-3524