Hingham Savings is committed to providing our business clients with robust security and control over their finances. As part of this commitment, we are pleased to offer Positive Pay, a complimentary service that empowers you to actively monitor and reconcile all check and ACH transactions debited from your account.
What is Positive Pay?
Positive Pay is an advanced fraud prevention tool that acts as an extra layer of security for your business. Here's how it works:
You provide a list of authorized checks and ACH transactions: This list includes details such as payee name, check number, amount, and ACH batch information.
We compare your list to presented transactions: Every check and ACH transaction presented for payment is compared against your pre-authorized list.
Discrepancies trigger alerts for your review: Any transaction not matching your list raises a flag, alerting you to potential fraud.
You control the outcome: Upon being notified, you can decide whether to approve or reject the flagged transaction, adding an extra layer of control and safeguarding your funds.
Ready to get started?
If you would like to utilize our Positive Pay service for checks and/or ACH, please reach out to a Cash Management Specialist at 781-783-1701 or via email during business hours, weekdays from 8:30 AM to 8 PM EST.