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Treasury Services Update: Tools to Safeguard Financial Assets in Your Business

April 28, 2023

In today’s digital age, businesses face an increasing risk of fraudulent activities that can result in significant financial losses, reputation damage, and legal consequences.

According to a report from the World Economic Forum, nearly half of surveyed organizations said they have suffered from fraud or related crimes in the past two years.

To protect themselves, businesses need to implement effective Treasury Management Services that may provide them with the necessary tools to safeguard financial assets and accounts.

Our Recommended Tools to Safeguard Financial Assets

Texas Gulf Bank offers a range of such services, including Positive Pay and ACH Debit Blocks and Filters, to help businesses mitigate these risks and protect their bottom line.

Positive Pay

Positive Pay is a bank-provided service that allows businesses to verify each check issued before it’s paid by the bank.

To utilize this product, businesses submit a list of checks to the bank, which includes information such as the check number, payee, date, and amount. The bank then verifies the details of each check presented for payment against the information provided by the business.

If the details do not match, the bank will not pay the check and will give the customer the opportunity to review the item, preventing any fraudulent checks from being cashed.

ACH Debit Blocks and Filters

Automated Clearing House (ACH) Debit Blocks and Filters are another effective Treasury Management Service provided by Texas Gulf Bank that can help businesses prevent unauthorized electronic debits from their accounts.

ACH is a payment system used by financial institutions to process electronic payments. With ACH Debit Blocks and Filters, businesses can set up filters to allow only authorized transactions or block specific types of transactions that may be prone to fraud.

Talk to Us About Utilizing Our Tools to Safeguard Financial Assets

Implementing effective Treasury Management Services like Positive Pay and ACH Debit Blocks/Filters can help businesses safeguard their financial interests and protect themselves from potential fraudulent activities.

It’s crucial for businesses to work with a reputable financial institution like Texas Gulf Bank to identify the most suitable Treasury Management Services to meet their specific needs. By doing so, businesses can prevent unauthorized transactions, protect their financial resources, maintain their reputation, and ensure compliance with the latest regulations.

Whether you’re a small business or a large corporation, we’re committed to helping you choose the right Treasury Management Services to meet your specific needs. Contact us today to learn more about our suite of fee-based services and how we can help you safeguard financial assets in your business.

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