Huntington Business Security Suite Benefits

Huntington Bank’s Business Security Suite Benefits is designed to make it easier for you to monitor your payments so that you can be a step ahead of threats to your business’s finances. Here’s where Huntington is here to help: They offer ACH Positive Pay, an online fraud mitigation service which allows customers to manage ACH debits and credits posting to their business account via filters and blocks. With Reverse Positive Pay, you can detect early signs of fraudulent, altered, or counterfeit checks by creating and posting a daily report of all presented items to Business Online and so much more!

ACH Positive Pay:

An online fraud mitigation service which allows customers to manage ACH debits and credits posting to their business account via filters and blocks.

How Does it Work?

Upon setup, you will be trained to establish specific filters and global blocks on your account.

• ACH Transaction Filters. Simply specify which ACH debit entries should be allowed to post. This can prevent unauthorized transactions while allowing certain transactions to occur as expected.
• ACH Transaction Block. Prevent all ACH activity from posting to an account. This can prevent unauthorized electronic transactions from occurring on your account. You may add, modify or delete authorization records using Business Online in a real-time environment.
• Alerts & Information Reporting. Email alerts inform you of ACH activity affecting your account including the status of ACH transmissions.

Check Positive Pay:

“Our strongest paper-based fraud mitigation solution available”

How Does It Work

As soon as you issue checks, simply provide Huntington with a check-issue file that contains the details of the checks you want to post to your account. This check-issue file file may be sent to Huntington via direct transmission, Business Online or via Easy Export.

When checks are presented for payment, Huntington will systemically compare the dollar amount and check number to the check-issue file ensuring that the information matches. If the checks presented do not match, Huntington will notify you of the exception items via Business Online. Using the check information as well as a digital image of the check, you will need to review and decision whether you want the exception items to Pay or Return.

• Teller Positive Pay identifies potentially fraudulent, altered or counterfeit check items presented at Huntington branches by comparing them in real-time with the check-issue file. If the information does not match, the check will not be cashed. This service is automatically included with Check Positive Pay.
• With Payee Positive Pay, customers will include the payee information in the check-issue file submitted to Huntington.
  When checks are presented, Huntington will systemically compare the dollar amount, check number and payee information to the check-issue file ensuring that the information matches.

Reverse Positive Pay:

Reverse Positive Pay is a fraud mitigation service which provides early detection of fraudulent, altered or counterfeit checks by creating and posting a daily report of presented items to Business Online.

How Does It Work?

The day after checks are presented for payment, Huntington will post a report of all items to Business Online for your review. The report will contain check information such as the dollar amount and check number as well as digital images of the checks.

Using Business Online, you simply need to review and decision if any of the items should be returned. All items without a decision will be pay once the decision period ends.

Easily setup and receive alerts via email regarding exceptions, decisions and approvals.

Check Block:

Check Block eliminates the risk of check fraud by restricting the checking account to electronic activity. All paper-based transactions are automatically rejected and returned, which prevents checks from posting to the account.

How Does It Work?

Huntington will designate your business checking account as an electronic-only account. Paper-based transactions will no longer be allowed to post to your account. Electronic and internal transactions will still post successfully.

• Funds can be moved to and from the account using an internal transfer on Business Online.
• Most types of ACH transactions and wire transfers will also post.

Transactions that will not post:

• Paper checks
• Over-the-counter withdrawals (counter checks)
• Paper drafts
• ACH debits, or entries resulting from the conversion of paper checks to ACH debits, such as:
  • RCK (re-represented entries)
  • ARC (accounts receivable checks)
  • POP (point-of-purchase)
  • BOC (back-office conversions)

Conclusion:

Huntington Bank’s Business Security Suite Benefits  is definitely a good option for those of you with a business. With the hefty amount of transactions you do daily, it’s definitely a necessary step of precaution to protect yourself from fraud. With Huntington Bank, they’ll take matters into their hands with 4 unique services that provide you with utmost security: ACH Positive Pay, Check Positive Pay, Reverse Positive Pay, and Check Block. Helps eliminate the risk of check fraud, altered, or counterfeited. Be sure to check out our complete list of Huntington Bank Account Bonuses or our Bank Deals Archive!