Positive Pay & ACH Transaction Blocking
First State Bank Central Texas offers and encourages the use of real-time Payee Positive Pay services, using NetTeller Advantage. Regardless of the number of checks a company writes, Positive Pay helps to
- Mitigate the fraud associated with the attempt to replicate a company’s printed checks by fraudsters and cash them,
- Reduce the exposure to loss by allowing the bank to pay only the checks that have been positively reported on the electronic check issued file the company provides the bank,
- Data may be entered by individual check or in a complete file that is uploaded from a company’s accounting system.
- Checks that are altered, counterfeit, or duplicated are identified and intercepted by Positive Pay before these checks can clear the bank.
First State Bank Central Texas encourages customers to utilize the latest feature to prevent fraudulent attempts to transact electronic business using ACH (Automated Clearing House) Transaction Blocking.
The bank will:
- Automatically return any ACH item attempting to post against a commercial account that has been set-up to deny ACH access.
- The customer may choose to block only debit, only credit, or both debit and credit ACH transactions.
- First State Bank Central Texas will work with the company to analyze the payment stream and offer ACH Block initially and changes may be made to parameters as more electronic payments are authorized for acceptance by the company.
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