Fraud Protection Services
For Business BankingControl Your Risk
Minimize Fraud
We offer services that provide additional means for controlling the risk from unauthorized items being paid from your business account(s). Positive Pay services allow you to detect and prevent unauthorized ACH debit activity and check fraud.
Check Positive Pay
Fraud Protection for Check Fraud
For many years now criminals have become more creative in the methods they use to perpetrate fraud, which has had a major impact on our nation’s check payment system. Checks are becoming duplicated, altered and counterfeited and ultimately presented for payment. This has resulted in millions of dollars in losses to businesses across our nation. Woodlands Bank can help in preventing this type of fraud from happening to you.
Check Positive Pay is an anti-fraud service that enables Woodlands Bank and you to work together to detect check fraud by identifying items presented for payment that you did not issue.
A $20 Monthly Fee Allows You Access To All Check Positive Pay Features.
Here's how Check Positive Pay works:
1 You Record
You upload an electronic file to Online Banking in CSV format every time you create checks. This file contains the check number, date and amount of every check created.
or
Manually enter the check information directly in the Online Banking portal. This is useful for checks that are overlooked on the electronic file or when unplanned checks are issued.
2 We Monitor
Once the bank receives the electronic file, it is saved and compared to your checks that are presented for payment through nightly processing. Items that do not match are identified as exceptions.
3 You Decide
Through our Online Banking system in the Positive Payment menu, you will review the exception and make a Pay or Return decision before the 11 AM cut off time. If you miss the deadline, the item will automatically be paid.
ACH Positive Pay
Fraud Protection for ACH Transactions
Electronic fraud prevention is essential because of the volume of business-to-business transactions. ACH fraud has grown exponentially, and under National Automated Clearing House Association (Nacha) rules your business has only 24 hours to return fraudulent business-to-business ACH transactions.
Our ACH protection services help safeguard your funds by allowing only ACH transactions from the parties you authorize, within the dollar limits you designate, to post to your accounts. This service has two features that protect you from unauthorized ACH debit activity:
A $5 Monthly Fee Allows You Access To All ACH Positive Pay Features Including:
ACH Debit Block
Completely blocks all ACH debit transactions from your account. Any incoming ACH debit is automatically returned to the originating bank. Once this service is in place, your account is protected from this type of fraud.
ACH Debit Filter
Allows you to designate the organizations who can ACH debit funds from your account up to certain dollar levels. Should any organization you authorize exceed the dollar limit you established, you will receive an email notification and be given the chance to pay or return the ACH debit.
Protect Your Business
Get Started Today
Ready to start taking action on payment fraud? Fill out the form and a fraud protection solutions expert will be in contact with you to get you enrolled in positive pay and answer any questions.
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