With the advancements of computer technology, it is increasingly easy for criminals, either independently or in organized groups, to manipulate check and ACH payments in such a way as to deceive innocent victims. Fraud Protection Services is a process to assist in protecting your accounts from fraudulent activity by identifying unauthorized transactions. With our Fraud Protection Services, we can work together to implement security measures that reduce the risks associated with altered or unauthorized cash transactions.
Check Fraud Prevention
Check Positive Pay service offers the security of enhanced fraud detection on issued checks. Companies that issue a large number of checks are subject to two recurring problems: check fraud and check errors. This valuable service gives you increased control and accountability, while minimizing losses on written checks. Issued checks clearing for payment are verified against a check issue file and any non-matched items are reported. You then have the ability to review any exceptions and return any checks that do not meet your conditions.
Payee Positive Pay
Payee Positive Pay is an additional security feature that uses Payee Name Verification (PNV) to read the Payee listed on a check. The Payee Name is then validated against the check issued file. As with standard Positive Pay any non-matched items are reported; you then have the ability to review any exceptions and return any checks that do not meet your conditions.
ACH Fraud Prevention
ACH Block Service takes a proactive approach to ACH debits and/or credits posting to business accounts. ACH Block stops all unauthorized debits or credits from posting to an account. Protecting your accounts with protection strategies is essential to safe guarding you against becoming a victim of fraud.
ACH Positive Pay
ACH Positive Pay lets you safeguard against fraudulent activity by filtering or blocking unauthorized electronic transactions and reporting any non-matched items. You will then have the ability to review any exceptions and make a pay/return decision. ACH items that meets the criteria you establish will automatically post to your account.
Online and mobile banking Security Procedures
Great Western Bank is committed to protecting your personal information. We've created these important security procedures to help you protect your personal and business financial information while also increasing your level of online security.
To ensure the highest level of protection follow all applicable procedures:
- Retrieve mail promptly and send bills and other sensitive documents from a secure mailbox.
- Shred private documents, e.g. receipts, applications, bank statements. Sign up for online statements to prevent theft of paper documents.
- Review your credit report at least once per year. Monitor your credit activity and alert the reporting agencies of any suspicious activity or significant changes to your credit score.
- Ensure all of your information is up-to-date with the bank. This includes your current phone numbers, mailing and email addresses, and date of birth.