Protect your business against fraud.
Did you know that your business or organization only has 24 hours to dispute a fraudulent check or electronic debit after it posts to your account? Get protected. CBT offers Positive Pay – a suite of valuable fraud protection tools designed to reduce your risk of loss from fraudulent transactions.
Check Positive Pay
Reduce the risk of check fraud with Check Positive Pay, one of the most effective check fraud prevention services available. Check Positive Pay provides more control over payments clearing your business accounts and allows you to make well informed decisions about suspicious check activity.
With this service, checks presented to the bank for payment are compared to the issued check files you upload to the bank’s system. If a discrepancy is detected designated users will have the ability to review the check and indicate if it should be paid or returned. An email notification can be sent to alert users of items needing review.
Payee Check Positive Pay takes protection to the next level. In addition to the standard verification of dollar amount, date issued and check number, the bank can verify the payee information against the name provided in the upload file.
Positive Pay services provide protection against altered or fraudulent checks and can help automate your account reconciliation process.
ACH Positive Pay
Another important consideration for your fraud mitigation plan should be ACH Positive Pay. This service allows control over electronic activity posting to business accounts. Similar to Check Positive Pay, unauthorized ACH transactions are flagged and you are alerted to review them through Business Online Banking.
ACH Positive Pay allows for the review of any ACH debits posting to your business accounts, which may be approved for a one-time or recurring payment. Dollar limitations may also be established. Any item which meets pre-authorized criteria will automatically post without review.
Additionally, our ACH Debit Blocker service may be utilized for accounts with no electronic debit activity. This service will automatically reject all ACH debit transactions prior to posting to your business account.
ACH Fraud Monitoring - Laru vision™
ACH Laru Vision™ is a top of the line ACH fraud monitoring software that uses a variety of business rule configurations to generate a default set of risk settings based on a company’s historical behavior. ACH Vision™ will put a hold on any ACH file that violates those rules, allowing us to protect you against possible fraudulent activity or operator error.
ACH Blocks and Filters
Our ACH Block Service automatically rejects any unauthorized ACH debit transaction to further protect your business account from electronic ACH fraud.
Contact your Treasury Management Team at 319.743.7002 to learn more or implement today!