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Ashley Hurr

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Treasury Management Specialist

Commercial Bill Pay

Commercial Bill Pay allows you to set up payees for various bills and vendors. Payments can be set up on recurring basis or as a one-time payment.
Commercial Bill Pay gives you flexibility to pay bills when and where you want without ever having to write a check!

Sweeps

Sweeps are an automated way for business customers to manage their money. This service allows you to set a target balance for each account. Often, the target has a ‘high’ and ‘low’ that you would like to keep in the account.
Any balance above the target range is ‘swept’ into another account. That account could be another checking account, savings, money market, or investment account.
Any balance below the target is funded from another associated account to bring the balance back to the target minimum.

Commercial Online Banking

F&C Bank Commercial Online Banking provides flexible banking from your business computer, allowing you to access information as well as initiate transactions within your business accounts. Commercial Online Banking allows you to:

  • Check balances in all your accounts – both deposits and loans
  • Transfer between accounts – both checking and savings
  • Make loan payments from accounts at F&C Bank
  • E-statement retrieval
  • Originate ACH transactions
  • Originate domestic wire transfers
  • DirectConnect for Quickbooks reconciliation
  • Secure Message Center- enables secure correspondence between bank and customer
Wire Transfers

A wire transfer is an electronic transfer of funds which will happen the same day the customer requests the transfer, if the request is prior to Federal Reserve deadlines. A wire transfer is a single item transfer of funds. The difference between a wire transfer and ACH is that an ACH transaction is usually a batch of several items and ACH will not post the same day.
Domestic wire transfers can be initiated via our Commercial Online Banking. Customers can then securely store this wire transfer information for use at a later date if needed.

ACH Services

ACH stands for AUTOMATED CLEARING HOUSE. ACH is simply an automated way of transferring funds without using a paper check. Like a check, funds are transferred from one party to another, often within different banking organizations.
ACH can be either a credit (deposit) or debit (check). A common type of ACH transaction would be payroll deposits.
Business customers can initiate ACH credits and/or debits from their Commercial Online Banking. Information can be securely stored for use on a recurring basis (payroll, tithing, utility bill payments).

Remote Deposit Capture

Remote Deposit Capture gives you the ability as a business customer to transmit deposited checks electronically from your office to the bank. A scanner is set up at the business office(s) and a web-based program is used to scan the deposit.
Remote Deposit Capture allows for a later cut-off time of 5:00PM with multiple user capabilities that can be customized for each business’ need. Extensive reporting and research options allow for greater managerial oversight and continuous review.

DirectConnect for QuickBooks

DirectConnect allows you to connect QuickBooks to your F&C Bank Commercial Online Banking account and download transaction activity directly to your QuickBooks register.

Merchant Services by Basys

Merchant Services allows you to accept credit cards as a method of payment for services. Basys is a third party vendor we refer business customers to for assessment of their merchant services process. Basys will then recommend a custom processing plan that meets each individual business’ need.

Check Collection Service by Global Check Recovery

Check Collection Service is provided by our third party vendor, Global Check Recovery (GCR), to assist business customers in bad check recovery services. GCR uses several innovative methods to calculate the best time to attempt to re-collect on a check. GCR does all the collection work for you.

A guide to protecting your business

Security Checklist For Businesses

Computers Used for Online Banking:

  • Verify that all security, scan and anti-virus software is updated and working properly on an ongoing basis.
  • Establish a dedicated computer for online banking with no e-mail installed, and no internet surfing allowed by employees.
  • IBM Trusteer Rapport – Complimentary download to protect your computer against malware. Available at fandcbank.com.

Managing Access to Online Banking:

  • Restricted Access by Employees. No Shared Passwords or Credentials. Set Specific Access Privileges for Every Employee.
  • Company Policy on Internet Usage and Privacy.
  • Employee Training on Corporate Account Takeover, Annual Training at a Minimum.

Monitoring Accounts:

  • Set Up Email Alerts
  • Daily Account Reconciliation

Protecting Your Business Against Internet Fraud

What is Corporate Account Takeover?

Corporate Account Takeover is a type of business identity theft in which a criminal entity steals a business’s valid online banking credentials. Small to mid-sized businesses remain the primary target of criminals, but any business can fall victim to these crimes. Attacks today are typically perpetrated quietly by the introduction of malware through a simple email or infected website.

What is the Risk?

The bank’s ability to protect you is severely undermined when your online credentials are compromised by a data breach initiated within your computer system. Once your computer is compromised, any action you can take from your online banking, a criminal will attempt to do fraudulently. Bill Pay, ACH Transfers, Wires, Copies of checks and signatures, etc. Any possible way to financially defraud you will not be overlooked by smart criminals with the intent to steal your money or personal information.

How Does it Happen?

Hackers often take aim at small firms’ computers because they are easier to infiltrate than banks’ systems. For example: An infected document attached to an email


A link within an email that connects to an infected website


Employees visiting legitimate websites – especially social networking sites – and clicking on the infected documents, videos, or photos posted there


An employee using a flash drive that was infected by another computer


Once the employee opens the attachment or goes to the Web site, malware is installed on the computer – in each case, fraudsters exploit the infected system to obtain security credentials that they can use to access a company’s business accounts. Once imbedded, it can even seek out others within the network to gain secondary access or credentials. While up-to-date antivirus software offers substantial protection against malware, it isn’t 100% effective. According to the FBI, there is no single deterrent that is 100% effective against fraud, viruses and malware.

Be Aware of the Danger!

Monitor and report suspicious activity! Ongoing monitoring and timely reporting of suspicious activity are crucial to deterring or recovering from these frauds. Report log-ins at unusual times of day, new user accounts, unauthorized transfers, etc., so the financial institution can immediately block the account and monitor activity.

Be wary of distractions designed to camouflage a takeover: Robo-calls flooding your phone lines, or an email “dump” flooding your inbox – both are designed to hide any automatic alerts or phone calls from the bank.

F&C Bank will never ask you for any personal or identifying information through an email link.

Only use the address that you have used before or start at your normal homepage – NEVER through a link.

Look for the lock at the bottom of your browser and “https” in front of the website address.

Take note of the header address on the website. Most legitimate sites will have a relatively short internet address that usually depicts the business followed by .com, .net or .org. Spoof sites are more likely to have an excessively long string of characters.

If you have any doubts about an email or website, contact the legitimate company directly. Make a copy of the questionable web site’s URL address, send it to the legitimate business and ask if the address is legitimate.

When creating your passwords, don’t use information that could easily be linked to you (i.e. phone number, your date of birth, address numbers).

Do not share your passwords or PINs with anyone, or store them where they can be found.

Make identity and data security an operational cornerstone of your daily business.

 

If you don’t have the time or knowledge to do so, you should seek out professional security and network professionals who can provide ongoing monitoring and protection on your behalf.

 

Failing to take measures to protect your business will put you at increased risk for fraud and the potential loss that could follow.

Treasury Management

(816) 542-1022

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