Cash Management

Contact a Commercial Deposits Representative at any Hills Bank location for more information about any of these services.

Cash Management Services
Account Reconciliation
ACH Origination (Direct Deposit)
Cash Management Account (Sweep Account)
CD-ROM Images
eStatement
Hills Bank Check Collect
Hills Bank Direct Merchant (Remote Capture)
Hills Bank OnlineSM Business Connections
Holiday Schedule
Lockbox Services
Positive Pay
PowerPayTM for Business Customers
Wire Transfer

Positive Pay

Designed to help businesses prevent fraud, Positive Pay verifies the checks you have written and pays only those you have authorized.

• An electronic file is created for the checks your accounting system generates.
• The file is then securely transmitted to the bank where it can be matched to the actual check when it is presented for payment.
• If the information on file is not a match with the check presented for payment, it is held for your authorization before it is paid.

Why Should My Business Use Positive Pay?
Positive Pay is a way to combat both external and internal fraud. Below are examples of fraud cases that have occurred to businesses.

External Fraud Prevention - Examples

• A business was burglarized. It appeared that the supply of blank checks had not been touched; however, the middle section of checks had been stolen. If Positive Pay was in place, this service would have caught the first stolen check that was presented for payment.

• A business mailed bills from their home mailbox. The bills were stolen from the mailbox. The ink on the checks was bleached out, rewritten to individuals for larger dollar amounts and presented at the teller windows as payroll checks. If Positive Pay had been in place, the service would have alerted the teller that the checks were stolen and they would have not been cashed.

Internal Fraud Prevention - Example

• Internally you can have one person write checks and a second person submit the file to Hills Bank^® thus creating a dual control procedure. This is a better process than dual signatures because the process is completed in two separate steps by two different people.

At Hills Bank, we are proud to offer this service to protect your business not only from the fraud that happens, but also the problems that go along with correcting a fraud situation. Please feel free to contact a Commercial Deposits Representative at 319-679-5500 for the Iowa City area, 319-654-8100 for the Cedar Rapids area, or toll free at 1-800-445-4725 to discuss other ways that Hills Bank can protect your finances.

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131 Main Street, Hills IA 52235 • 1-800-HILLSBK
Member FDIC • Equal Housing Lender