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Positive Pay & ACH Fraud Filter

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Let’s be honest: fraud happens. It’s an unfortunate truth of the world in which we live. According to the Association for Financial Professionals, 62% of companies were the targets of fraud in 2014, with 77% of the fraud targeting checks. That’s why First National Bank is excited to offer two services designed to combat fraud before it happens.

Positive Pay

At First National Bank, we’ve seen a large number of counterfeit checks processed through our business accounts within the last year, in addition to the hundreds of consumers who were victims of check fraud. In order to protect yourself and your finances against the threat of check fraud, we offer Positive Pay. With Positive Pay, we can work together to stop fraud before it happens.

Check Positive Pay is a service that matches the account number, check number, and dollar amount of each check presented for payment against a list of checks previously authorized and issued by your company. If any of this information doesn’t match, we will notify you by email, and you will be able to view the check and make the decision on whether to return or process the check.

ACH Fraud Filter

With more and more people moving to electronic payments, we’ve seen another alarming trend in fraudulent behavior -- the issuance of unauthorized and fraudulent ACH transactions. A scammer can get ahold of your account details and electronically debit money out of your account. Business accounts have only two business days to return a fraudulent ACH, so stopping it before it happens is a great way to ensure your losing money.

ACH Block & Filter takes a proactive approach to filter ACH debits by allowing only pre-approved vendors to debit your account. Just like with Positive Pay, if a non-approved vendor attempts a debit, you’ll receive an email notification allowing you to approve or deny the transaction.

Contact us to learn more about the fraud prevention tools offered by First National Bank.

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