How Coastal Community Bank Can Help Protect Your Business
If you’re a business owner, you know that keeping your business finances in order is critical. Unfortunately, criminals are getting more sophisticated in their tactics and are getting better at fraudulent activities, so it’s essential to think about how to safeguard your business. That’s where your bank comes in. Here are just a few ways Coastal Community Bank can help keep your business safe:
Online & Mobile Banking
If you’ve signed up for online banking, you get immediate access to your bank account details. You can also export the transactions you want to upload to your accounting software. If you download the mobile banking app, you can take your access anywhere you go! Here you can efficiently manage your finances and quickly see if anything is amiss.
If you’re at the point in your business where you need to elevate your online banking experience, then Coastal’s Commercial eBanking platform may be for you. This platform gives you access to more detailed information and account management tools. With the Coastal Commercial eBanking platform, you can add users and customize their access, set your Automated Clearing House (ACH) and wire limits, and set up dual control, which adds an additional layer of security by requiring at least two people to approve a transaction. For example, if you wanted to initiate a wire, it would not send until you and one more authorized individual approved the transaction.
Various programs offered through Coastal can reduce your risk of fraud. The services provided through our Treasury Management Team can help you manage and protect your funds further and can assist with payment and collection services.
- Check Positive Pay. Designed to help prevent check fraud by automatically matching check numbers and amounts against an issued-check file you provide. With this, YOU decide which checks to pay.
- ACH Positive Pay: A fraud prevention tool for electronic debits to business accounts. With this service, you can monitor ACH activity to accept or reject items before they posit to your account. You build a list of approved vendors and those are paid automatically. You can also assign filters that cap the amount that is paid to any vendor. If there is an electronic transaction occurs that is not on the approved vendor list that you have established, or outside of the filters, you receive an alert so that you can decide whether to approve or deny the transaction.
- Remote Deposit Capture (RDC). If you frequently deposit checks, you might want to consider a remote deposit solution. You can conveniently deposit your checks from your office via a desktop check scanner. Your checks would be converted to an electronic image and securely transmitted to Coastal. It also saves you time and effort going to the bank.
Relationship with your Banker
Get to know your Banker and get them familiar with you and your business. They may be able to offer additional solutions and safeguards to protect your business finances further.