Fraud prevention services mitigate risk and safeguard your accounts.
You can reduce your exposure to check fraud by controlling the checks that pay on your accounts. By monitoring check activity against your issue file, you can ensure every check presented has been authorized for payment. If a check is presented for payment and it does not match your issue file, the item will be sent for your review and you can decide to pay it or return it.
ACH Positive Pay
ACH Positive Pay gives you a timely, online review of incoming ACH debit transactions each day so you can return fraudulent ACH items within the 24 hour window allowed for businesses. You are alerted each morning via email or text that there are ACH debits to be reviewed. You will see details of each item including the originator, dollar amount and company name. Then, you decide to pay or return it.
ACH Block prevents all ACH debits from posting to your account without your input.
Universal Payment Identification Code (UPIC)
UPIC is a unique account identifier for receiving ACH payments without disclosing your bank account number. By masking your most sensitive banking information, a UPIC makes it safe to publish electronic ACH payment instructions. Since UPICs are restricted to credit payments, they also mitigate the risk of unauthorized debits.
Safewire protects like UPIC for companies receiving payments by domestic wire transfer.