ACH transactions are common for large businesses like merchant wholesalers. ACH payment processing is generally fast, secure and dependable. It avoids the need to handle and secure large amounts of currency or track individual physical checks from receipt to deposit. However, ACH payment scams can cause substantial problems if companies don’t have the right systems in place to identify and prevent potential fraud.
The more your business understands about ACH payment scams, who is at risk and how to address fraud, the more confidently decision-makers can act. Because ACH payments are already common in B2B transactions and their usage is growing more popular, this form of transferring funds may prove to be an increasingly prevalent target for fraudsters. If your business occasionally or regularly utilizes ACH transactions, staying informed should be a top priority.
Our white paper, titled “ACH Payment Scams Threatening Distributors,” offers in-depth and practical guidance that your business can leverage to mitigate the possibility of ACH fraud. Comerica Bank understands the issues faced by large businesses. Our treasury management services include programs designed specifically to manage ACH payments, including Comerica ACH Positive PayTM, which adds an additional layer of security to ACH transactions.
Keeping your business safe from ACH payment scams and similar types of fraud is crucial for smooth and consistent operations. To learn more about how Comerica Bank can support your need for secure and effective banking, get in touch with our team today.
This information is provided for general awareness purposes only and is not intended to be relied upon as legal or compliance advice for your business
This article is provided for informational purposes only. While the information contained within has been compiled from source[s] which are believed to be reliable and accurate, Comerica Bank does not guarantee its accuracy. Consequently, it should not be considered a comprehensive statement on any matter nor be relied upon as such.
Comerica has partnered with Worldpay, LLC to provide credit card processing. Merchant Services are offered through Comerica Bank. Ancillary services are offered through Worldpay, LLC or other service providers and may require a separate agreement with those service providers.