Protecting Your Business from Fraud
Protecting your business’ and customers’ information is among your top priorities as a business owner. Any fraud activity against your business can cost you any of the following:
- Money – at their core, criminals who try to defraud your business are looking to take money away from your business.
- Time – When you do identify cases of fraud, it can be a time-consuming process to get your money back. That’s time you are not spending helping your employees and assisting your customers.
- Reputation – Fraud can lead to a lack of trust from your employees and customers which can adversely affect your business for a long time.
American Community Bank is dedicated to helping business owners fight against fraud by providing them with the right tools. Find out how you can protect your business by contacting our business banking team.
Prevent Check Fraud with Check Positive Pay
Check fraud can represent a huge liability for your business, but you can protect your business against check fraud by using Positive Pay from American Community Bank. Here’s the process you’ll follow to use positive pay to stop fraudulent checks:
- You’ll upload a file with the approved checks to American Community Bank.
- American Community Bank will verify and pay those approved checks.
- Any flagged check or unapproved check is then presented to you for manual review, giving you full control over accepting or declining the transaction.
Preventing Fraud With ACH Positive Pay
Positive Pay services are also available with our Automated Clearing House (ACH) services. With ACH Positive Pay you can set up filters and blocks for the types of transactions you will allow for electronic payments. Any transaction that doesn't meet the criteria you define is sent to you for review and manual approval. This gives you more control over your business' debit transactions and protects you against fraud. ACH Positive Pay benefits include:
- Ensures your regular vendors are paid on time when you add them to your list of approved ACH Originators
- You can review any suspect transactions before they are completed to prevent fraudulent debits from your business
- Alerts can be set up to keep you constantly informed on what's going on with your transactions