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We're serious about protecting your business and helping you manage the money you bring in using our cash management1 tools. With services that monitor your cash flow, stop payments and fraud protection, your hard-earned cash has never been safer. We make business banking personal with our customized ideas, because we know behind each business is a human being working hard to succeed.
Cash Management/ACH Services
- Monitor cash flow, balances and account activity efficiently
- Stop payments
- Schedule payments
- Help reduce your risk of check fraud
- Online banking user controls & payment monitoring
- Electronic collection of funds
- Direct deposit of payroll
- Transfer data to spreadsheet program or QuickBooks
Fraud Protection
AbbyBank offers layers to help protect your account from external and internal financial fraud.
- Online and Mobile alerts – Enable alerts for daily transaction posting, account balance, automated clearing house (ACH) transactions and more.
- Transaction monitoring – It is advisable to review your account activity every business morning and immediately inform the bank of any questionable transactions or disputed items. Please note that if there are any unauthorized and/or fraudulent ACH transactions on a business account, they may need to be resolved within 24 hours (1 day). After this timeframe, the financial institution's liability may be transferred to the business.
- Check Positive Pay – Automatically monitors your account(s) by matching the account number, check number, payee verification and dollar amount of each check against the check file authorized by your business.
- ACH Positive Pay - Allows your business to create payment rules for acceptable Company IDs of authorized electronic payments and monitors any ACH Company IDs not on the list.
Cybersecurity
With the increase of cybersecurity attacks over the last few years, it's important to stay current regarding the risks to your business. If your business is connected online in any way, you are at risk of a cyber-attack.
Steps to Protect Your Business:
1 - Update
- Updates to software and apps are crucial because they patch security holes
2 - Create a Plan
- Creating a plan ahead of time prepares you to manage response in a timely manner
3 - Learn Your Risk
- Identify all areas of potential risk
4 - Consider Cyber Insurance
- Cyber insurance2 can help manage your risk before an incident happens and reduces costs that can occur as a result of a breach
Contact a Cash Management Specialist to get started today!
Tracy Engman
Cash Management Specialist
Other Cash Management Services We Offer
1Subject to approval
2Consult an attorney or insurance agent to find out if cyber insurance is right for you.
