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Coming Soon…Positive Pay and ACH Block & Filter

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 announce the arrival of two new services designed to combat fraud before it happens. 

Positve Pay

At First National Bank, we’ve seen a large number of counterfeited checks processed through our business accounts within the last year, and that doesn’t account for the hundreds of consumers who were victims of check fraud as well. In order to protect yourself and your finances against the threat of check fraud, we’re proud to launch Positive Pay to stop fraud before it happens.

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 allow the check to be processed.

ACH block & 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 ACHs. 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 fraudulent ACHs, so stopping it before it happens is a great way to make sure you’re not needlessly 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.

Watch for more information coming soon. If you have any questions or would be interested in learning about any of our products or services, please contact our Online Commercial Services experts today!

Steven Athay
Ankeny, Johnston & West Des Moines:
Todd Strum
What Banking Should Be.