Sending and receiving funds electronically saves businesses both time and money. But it pays to take extra steps to stop cybercriminals from stealing your funds. With ACH Positive Pay, your business team will be able to monitor electronic withdrawals from your online accounts to ensure that they are legitimate.
- Your business provides Cashmere Valley Bank with computer files listing authorized electronic debits and payments
- When there are attempts to withdraw funds electronically from your accounts, they are automatically checked against your computer files
- If the attempted debits do not appear on the files, we flag them and contact your business via email
- Your business then has the ability to reject or accept the debit
- You may authorize multiple employees to review suspicious activity
- Spend fewer resources and less staff time trying to recover funds lost to fraud