Information provided by Associated Bank
Increased usage of the Automated Clearing House (ACH) network for the processing of wide varieties of electronic payments has led to increased instances of ACH fraud.
Financial institutions can provide a blocks and filters service to help prevent unauthorized ACH debits and/or credits from posting to your bank accounts. Contractors can benefit by only allowing ACH transactions from authorized parties within a designated dollar limit settle to your business accounts.
How ACH Blocks and Filters protect your accounts:
- Prevent ACH debits (and/or credits) from posting to your accounts using a financial institution’s ACH Block service.
- Allow only authorized debits or credits to settle to your accounts based on a list of trading partner criteria you provide using a financial institution’s ACH Filter service.
- Specify a maximum ACH debit and/or credit dollar amount by trading partner for even further control (this can be an optional service),
- Be notified via email or text message when unauthorized ACH transactions are presented.
Ask your account manager for more information about protecting your company from check fraud.
