Positive Pay

ACH Positive Pay

Electronic fraud protection is essential as we see more and more Automated Clearing House (ACH) transactions initiated each year. ACH Positive Pay helps businesses protect themselves against ACH fraud, as they have limited time to return fraudulent business-to-business ACH transactions.

ACH Positive Pay is managed through your online banking and allows only ACH transactions from a pre-approved list of parties to debit and/or credit your account.

How it works:

  • You provide a list of companies that are authorized to debit and/or credit your account.
  • If an attempted debit or credit doesn’t match the authorized list, it will be presented as an exception in Hills Bank Online.
  • You must either “pay” or “return” the transaction by 11am the following business day.

Contact a Treasury Management Representative at 1-800-445-5725 (1-800-HILLSBK) for more information on ACH Positive Pay.

Check Positive Pay

Designed to help businesses prevent fraud, Check Positive Pay is managed by your business and verifies the checks you have written and pays only those you have authorized.

How it works:

  • An electronic file is created for the checks your accounting system generates.
  • The file is then securely uploaded to Hills Bank Online 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, you must either “pay” or “return” the transaction by 11am the following business day.
Why Should My Business Use Check Positive Pay?

Positive Pay is a way to combat fraud. Below are examples of fraud cases that have occurred to businesses.

  • 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 Check 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 Check 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.

Contact a Treasury Management Representative at 1-800-445-5725 (1-800-HILLSBK) for more information on Check Positive Pay.

Signature Positive Pay

Signature Positive Pay is a tool to help manage an account requiring two signatures per check. Additionally, it simplifies processes for accounts requiring multiple signatures for checks written over a specified dollar amount.

How it works:

  • You meet with Hills Bank treasury management to determine which aspects of Signature Positive Pay will meet your business’ needs.
  • Dependent on which aspect of Signature Positive Pay you use, checks will be presented as an exception in Hills Bank Online.
  • You must either “pay” or “return” by 11am the following business day.
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.

Contact a Treasury Management Representative at 1-800-445-5725 (1-800-HILLSBK) for more information on Signature Positive Pay.

Account Reconciliation

With Account Reconciliation you can conveniently balance your account through Hills Bank Online.

How it works:

  • You download reconciliation files from Hills Bank online and upload them to your accounting system.
  • Bank activity is matched against the accounting system.
  • This determines outstanding items, resulting in a balanced account.

At Hills Bank, we are proud to offer these services to protect your business not only from fraud, but also the problems that go along with correcting a fraud situation. Contact a Treasury Management Representative at 1-800-445-5725 (1-800-HILLSBK) to discuss other ways that Hills Bank can protect your finances.