What are some examples of ACH fraud?
An unauthorized person/company obtains your account and routing numbers to initiate an ACH transaction through the internet, telephone, or when a check converts to ACH. These types of transactions are caught with ACH Positive Pay.
What’s the difference between ACH Block or Filter?
You can choose to block and return all ACH debit transactions from being presented against accounts that should not have any ACH activity. Filters allow you to make decisions on exception transactions that do not meet certain rules established within Business Express Online Banking.
What information do I need to set up ACH Positive Pay?
You can provide a list of approved companies you want to allow to make ACH debits to your accounts. You will have the opportunity to approve transactions that do not meet our requirements when they present exceptions.
What are the different matching options for ACH Positive Pay?
Peoples National Bank matches ACH debit transactions against the company ID, SEC, and maximum allowed amount. Reporting is available with details on the ACH debit entries.
Do I have to use Online Banking to have ACH Positive Pay?
Yes, Business Express Online Banking is required to access ACH Positive Pay.
Can multiple users access ACH Positive Pay?
Yes, your business will designate an administrator of the ACH Positive Pay service. The administrator can add additional authorized users with specific user permissions with access by account and by function.
How are exceptions defined?
- ACH transactions not on your whitelist.
- ACH transactions exceeding the preapproved amount or with a different SEC on the whitelist.
- If no ACH debit transactions allowed, an ACH debit transaction being presented to your account
How will our business be notified if there are exceptions to be processed?
You will receive notice by email or SMS, if there are exceptions to be processed. A reminder email is sent one hour prior to the exception processing deadline.
What is the exception decision timeline?
The exception processing deadline is 2 PM CST. If no exception decision is made, your default decision to pay or no pay will apply.