Cash Management

Positive Pay Fraud Prevention Service

Positive Pay is a fraud prevention service designed to help businesses detect and prevent unauthorized transactions before funds leave their account.

The service works by matching key details—including check number, payee, dollar amount, and account number—for each check and ACH transaction presented for payment against a list of pre-authorized items submitted by your business. If any discrepancies are identified, an exception report is generated and delivered to you, allowing you to review and either approve or reject the transaction.

Please note, if a decision is not provided on an exception item between 7:00 AM and 11:00 AM CST, the item will be processed and paid.

• Key Benefits

  • Proactive Fraud Detection – Identify and stop suspicious activity before funds are disbursed
  • Streamlined Back-End Process – Automated monitoring reduces manual intervention
  • Check Positive Pay – Compares checks presented for payment against your issued check file
  • ACH Positive Pay – Compares ACH transactions against authorized company records
  • Exception Alerts – Receive notifications when mismatches occur
  • Payment Control – Maintain full authority to approve or reject flagged transactions
  • Fraud Recovery Support – Enables faster action to recover funds in the event of fraud
  • Enhanced Security & Peace of Mind – Gain confidence knowing your accounts are better protected

Automated Clearing House (ACH) is an electronic payment delivery system that allows you to pay or collect funds faster electronically through the ACH network. These services can be used to streamline accounts payable and accounts receivable functions through an ACH-formatted file in your Cash Management Services.

• ACH Payables allow:
  • Direct Deposit
  • Expense Reimbursement
  • Vendor Payment
  • Tax Payments 
• Direct deposit employee payroll 
• Make vendor payments 
• Access up-to-date records of transactions via online banking or account statements 
• Schedule one-time or recurring outgoing payments 
• Efficient and accurate processing, providing more visibility to your cash position 
• Improve cash flow 
• Increase productivity by automating processes 
• Cut down on employee resources and time 
• Increase accuracy; reduces human error 
• Eliminate waste and expenses associated with paper checks

ACH Reporting

Generate a variety of reports in a simple, easy-to-use format.

Tax Payments

Make federal, state, and local tax payments electronically.

ACH Receivables

Collect payment from customers electronically via one-time debits or recurring payments with written authorization

Cash Concentration

Electronically consolidate your funds from various locations.

• Unparalleled management over accounts 
• Maximize fund availability 
• Prevent funds sitting idle that could be used elsewhere 
• Track individual account performance 
• Ideal for businesses with multiple stores, outlets, department, etc. 
• Perfect for companies with locations in several cities or states 

Customers expect payment options that are not only fast and convenient, but also safe and secure. First Southern Bank, with Banc Card, offers that fast, reliable option you need — at an affordable price.

Whether you are opening a new business or expanding your current one, we provide flexible, robust, and reliable products and services that will enable your business to accept all forms of electronic payments —including all major credit cards, debit cards, gift and loyalty cards, checks, and more!

Benefits of processing with First Southern Bank:

• Ability to accept all major credit and debit cards in-store, or with your mobile device
• Daily settlement allows funds to be directly deposited to your account, which can assist you in paying your bills, reconciling your account, and tracking inventory in a timely manner
• Consolidated statement includes all cards, even American Express
• Access to a variety of Point-of-Sale terminals and software — with additional options available to enable PCs, tablets, and smartphones to accept payments
• Local representative at First Southern Bank to assist in servicing your merchant processing needs, and 24/7 support provided through Banc Card
• State-of-the-art fraud detection tools for securing processing of transactions, including EMV, tokenization, encryption, address verification services, and card verification
• Specialists who analyze suspicious and unusual transaction patterns of processed transactions, reducing your risk of fraud

At First Southern Bank we are dedicated to helping businesses expand their payment options, and want to work to specifically help your business meet its processing needs.  Call us today at 618-997-4341 for more details on First Southern Bank merchant card processing.

 

Deposit your checks safely, quickly, and conveniently from your office.

Remote Deposit Capture is a service which allows a user to scan checks and transmit the scanned images and/or ACH data to a bank for posting and clearing. The basic requirements for a Remote Deposit Capture service currently include a PC, an internet connection, a check scanner and a service provider such as First Southern Bank.

• Deposit checks from the convenience of your office
• Utilizes a desk scanner and internet access
• Simply sign, scan, then send checks to the bank for processing
• Checks converted to an electronic image that is then securely transmitted to the bank
• Streamline check handling from multiple offices or locations
• Same day credit up to 4 pm; realize funds quicker, accelerating cash flow
• Saves time; the whole process can be done in a matter of minutes
• Reduce time and money spent on document preparation and transportation
• Fewer errors in accounting
• Reduce the risk of check fraud by eliminating the circulation of paper checks

For additional information on Remote Deposit Capture, please call us at 618-997-4341.