ACH Origination, Debit Filter, Positive Pay, Payroll Cards
Hills Bank Online allows you to initiate ACH (Automatic Clearing House) files. You have the ability to send and receive payments electronically through an automated clearing house. The files are used to create payroll direct deposit, direct debits for billing, or to consolidate your funds from multiple financial institutions.
- No need for employees to leave work to deposit their paycheck.
- Just one debit to the business account, so at month end there are no payroll checks to reconcile.
- Less check stock used and no need to sign paychecks.
- No need to reissue payroll checks or place stop payments on lost payroll checks.
Direct Payment Benefits
(Examples of recurring payments include property managers, membership dues, church donations, monthly utilities, and more.)
- Payments will be in your account on the due date.
- You will have immediate access to your funds.
- There is no need to send either additional notices or a bill collector.
Consolidation of Multiple Financial Institutions
- Electronically transfer funds between financial institutions.
- No longer need to write checks between accounts.
Hills Bank and Trust Company is closed for holidays according to the Federal Reserve holiday schedule. Please keep in mind files cannot be effective or originated on the dates when we are closed. View our ACH holiday schedule for a list of closings.
Electronic fraud prevention is essential as we see more and more Automated Clearing House (ACH) transactions initiated each year. Debit Filters helps businesses with ACH fraud, as businesses only have 24 hours to return fraudulent business-to-business ACH transactions.
ACH Filters through Hills Bank Online help protect your funds, allowing only ACH transactions from the parties you authorize, within the dollar limits you designate, to post to your account.
Debit Filter Helps Keep Accounts Safe:
- Choose to allow or return ACH debits based on criteria you define
- Sends you email when ACH exceptions arrive
- Allows you to easily set up your approved company list – identify business partners authorized to originate ACH transactions, within the dollar limits you specify. Only transactions that match your criteria post to your account
Contact a Business Deposits Representative at 1-800-445-5725 (1-800-HILLSBK) for more information on setting up a wire transfer.
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 not have 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 fraud, but also the problems that go along with correcting a fraud situation. Please feel free to contact a Business Deposits Representative at 1-800-445-5725 (1-800-HILLSBK) to discuss other ways that Hills Bank can protect your finances.
Payroll Payment Cards
Through our exclusive paycard partner SOLE® Financial we offer SOLE Visa® Payroll cards for unbanked employees at no cost to your business. Did you know the average unbanked employee spends $628 annually just to access their pay and pay their bills? Free your employees from the expensive shackles of a paper check with payroll cards.