Companies must be continually vigilant to protect against fraud. Failure to monitor bank accounts daily for fraudulent transactions dramatically increases your company's risk. Get peace of mind and enhance your company's fraud protection safeguards with UMB ACH Filter.
What you can expect
- Online tool to view incoming ACH Debit activity to identify unauthorized debit transactions
- Advanced control of ACH transactions that are posted against your account
- An inexpensive defense against fraudulent transactions for a low monthly service fee
How It Works
The Automated Clearinghouse (ACH) Service network is a nationwide electronic batch processing system operated by the Federal Reserve Bank. In order to access this network, a company must send transfer instructions to its originating bank, which then passes them to the network that will effect settlement one or two days in the future. If the bank routing number and account information is correct, transactions post automatically with no human intervention at the receiving bank.
Block Services allowing customers to provide instruction to:
- Post no ACH entries
- Post only ACH credit entries
- Post only ACH debit entries
Filter Services ensure only authorized items post against your account and provide:
- An online tool to view and monitor all incoming transactions
- Visibility of incoming ACH Debit transactions and the ability to make decision (i.e. decline a transaction or add to the approved list).
- Authorized users within the company access to UMB's online module to view all the incoming ACH debits. Action can be taken to either return or add the company to the approved list for any future transactions.
- Automated notification when the online module is loaded with transactions that are not in the authorized list. An email alert is sent to the authorized users notifying the need to login to the online module to view these transactions.