Additional Services
Positive Pay Solutions
Mitigate risk and safeguard your accounts.
Our Positive Pay Solutions are designed to safeguard against unauthorized ACH or check transactions and other check fraud.
Check & ACH Positive Pay are like insurance. It’s better to have it and not need it, than need it and not have it. Our Positive Pay Solutions for business and commercial accounts are among the strongest and most immediate controls available to:
Significantly reduce the risk of check and ACH fraud
Provide greater control and visibility over payments cleared
Help detect fraudulent activity early, potentially avoiding financial loss
Prevent business disruptions due to fraud
What’s included with Positive Pay?
Use ACH and Check Positive Pay on all accounts.
Send in your check issuance files in a timely manner for Check Positive Pay.
Consider Dual control for all transaction management.
Review all ACH and Check Positive Pay exceptions daily.
Reconcile accounts daily.
Use a P.O. Box or locked mailbox for receipt of all mail.
Do not send disbursement checks in the USPS blue mailboxes or other unsecured drop boxes.
Educate employees on cyber-attacks and business email compromise scams.
Review insurance policies for cyber security and other loss protection.
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Check Positive Pay service operates by verifying each check presented for payment against a list of checks issued by your company (a.k.a an issuance file). This issuance list or file includes essential details such as check number, account number, dollar amount, and payee and is also available for teller line validation of on-us checks presented to be cashed.
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Payee Positive Pay will also inspect the check image presented and compare the payee name provided on your issuance file with the payee on the check image. Any discrepancy flags the check as potentially fraudulent, prompting alerts to be sent for further action. This information is also available for teller line validation of on-us checks presented to be cashed. This process significantly diminishes the risk of check fraud and losses that can almost never be collected.
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ACH Positive Pay allows you to set parameters to control which ACH debits and credits post to your accounts. Similar to its check counterpart, ACH Positive Pay flags transactions not meeting the established criteria, enabling you to review and decide on the legitimacy of these transactions.
What are some best practices to protect my commercial accounts?
80% of businesses were victims of payments fraud attacks or attempts in 2023, according to the 2024 AFP Payments Fraud and Control Survey Report. With a significant increase in payment fraud attacks each year, the security of commercial accounts is more crucial than ever.
To maintain the integrity of your transactions and protect your assets, we've compiled a list of best practices designed to keep your commercial account secure.
Limit processing, storing, and transmission of bank accounts and card numbers.
Control access to accounts and information, and use dual approval for all disbursements.
Use multi-factor authentication (MFA) for all money movement activities.
Do not update vendor information for payment without an out-of-band verification using a known and validated source.
Maintain secure computer access.
Secure your network and online banking system and update passwords regularly.
Maintain backups to the network and review backups to ensure correct.
Additionally, should fraud occur, we've outlined clear and effective steps to take immediately to mitigate damage and address any vulnerabilities.
Keep the incident discreet in the event it was an employee committing internal fraud.
Contact a Relationship Banker to report fraud.
Contact the insurance company.
Review all accounts and activity to determine all transactions have been identified.
Contact local authorities or the Federal Bureau of Investigation (FBI) or Secret Service.
If check stock is stolen or lost, place stop payments on all checks within the affected check stock range.
Contact your Relationship Banker to enroll in ACH and Check Positive Pay with payee validation if not in place.
ACH Origination
Our ACH (Automated Clearing House) Origination service offers you flexible options for handling recurring payments, direct deposit for payroll, and you can collect bills without printing and sending invoices via “snail” mail.
Lower costs
Improved cash flow
Timely
Secure
Business Credit Cards
Choose from our popular business credit card options such as low rate, cash back or flexible rewards to find the one that works best for your business.
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Free online expense reporting tools.
No fee for additional employee cards.
Mobile payment capability for added convenience.
Zero Fraud Liability. You won’t be liable for fraudulent purchases when your card is lost or stolen.
Cardmember Service available 24 hours a day/365 days per year.
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Remote Deposit
Village Bank’s Remote Deposit Service* allows businesses to capture deposits without leaving your office, eliminating the need to transport checks to the bank.
| Does your business | Enjoy the benefits of | |
|---|---|---|
| Have multiple locations? | Improved cash flow | |
| Make Deposits after normal banking hours? | Making deposits any time | |
| Pay employees to deliver deposits? | Cutting costs and trips to the bank | |
| Receive checks with large dollar amounts? | Easy and accessible reporting options |
If you answered YES to any of the above questions, then Remote Deposit may be right for your company. The benefits are endless, it’s like having a 24-hour teller right in your office!
How does it work?
Remote Deposit is accessed by logging into a secure website and using your business online banking credentials. While in the program, you will use a scanner to capture the check images. Once the scanning is completed, you will submit the deposit. The deposit is immediately on Village Bank’s server ready for processing! *Remote Deposit cut-off time is 5:00pm. Reports are available with each deposit including the following report choices: PDF, PDF with Images, CSV, or Images Only.
Credit Card Processing
Looking to accept credit cards or reduce your card processing expenses? Village Bank offers you a complete spectrum of products and services that meet all electronic transaction processing demands.
Credit & debit card processing
Gift & loyalty programs
Managed network security
24/7 customer service on all products.
