Protect Against Financial Loss

Implement a fraud prevention strategy with powerful TowneBank tools to reduce the risks of both unauthorized payment origination from your account and unauthorized debits posting to your account.

ACH Fraud Prevention

If you use ACH or traditional paper checks, your transactions could be at risk. Protect yourself from loss because of fraudulent activities and theft with TowneBank ACH Fraud Control and Check Fraud Protection services. Your experienced and knowledgeable Treasury team can help you find and implement the right protection solutions for your business. You can access these powerful tools through Business Online Banking. 

Here’s how ACH Fraud Prevention works: 

  • Evaluate ACH transactions before they are finalized
  • ​Use dual approval for payments (each transaction is reviewed and approved by a separate individual)
  • Control the ACH approval process with custom approval levels to fit the way your company operates
  • ​Assign user access permissions for your employees
  • Monitor both ACH payables and receivables 
  • ​Create ACH processing rules to fit your business

Review and approve payments before they are finalized with Positive Pay services for ACH transfers and check transactions. This minimizes the chance of fraudulent activity impacting your account. You can also assign user permission levels for staff, which helps you control payment approval. 

Learn more about how TowneBank can help your business protect itself against the risk of financial loss. Let us show you how we can customize our fraud protection services to fit your business. 

Check Fraud Control Services

Deposit Reconciliation

  • Various locations or shifts can deposit to the same account number using unique location identifiers on deposit tickets

  • Reports show details of deposits by location or shift for quick and simple reconciliation

Full Account Reconciliation

  • Provide transaction files to register the checks you have issued

  • TowneBank reviews checks presented against your issue/registry file

  • The bank creates a detailed report categorizing issued checks, paid checks, and outstanding items during the latest period

  • Positive Pay can use your transaction files to identify potential fraudulent or altered items 

Partial Account Reconciliation

  • A simpler process—you don’t need to provide a check issuance report

  • TowneBank provides a listing of all paid checks in sequential numeric order

  • This report includes dollar amount and paid date for each check

Our Treasury Team

Insights & Perspectives

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FAQs

  • ACH Payments are processed through the Automated Clearing House Network, a secure centralized network, financial institutions can use to transfer funds safely and securely.
  • TowneBank offers ACH protection with ACH Fraud Control and Check Fraud Protection services. This enables you to evaluate transactions before they are finalized, use dual approval for payments, control the ACH approval process with custom approval levels to fit the way your business operates, assign user access permissions for your employees, monitor both ACH payable and receivables, and create ACH processing rules to fit your business.
  • ACH fraud is unauthorized ACH transactions or the fraudulent transfer of funds or withdrawals through the ACH Network.
  • As a business, if you provide ACH payment processing for your business or clients, your company is ultimately liable for ACH payment fraud, per Regulation E.

Tour Business Online Banking

Explore a complete library of Business Online Banking simulators to learn how to create reports, add a user and more. 
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