How to Keep Business Accounts Safe with Positive Pay

Scammers are getting smarter at how they try to steal your hard-earned money, which means businesses need to get tougher in how they defend accounts and keep their business accounts safe. Some scammers are even going as far as creating fictitious websites to try to capture online banking log-in credentials. To ensure you never enter credentials on a fictitious site, only access the login page of your financial institutions from a known, trusted url or app (for Chelsea Groton customers, visit www.chelseagroton.com). Never click on a link to an online banking login page from a text or ad. Ads for the real Chelsea Groton Bank will always bring you to the Bank’s website first, not directly to the login page. In addition to ensuring you safely access the Bank’s online login page, Chelsea Groton also offers several tools to help mitigate fraud. Read on for how to set up alerts, to watch a brief demo on the Positive Pay Fraud Detection Service, and to access other cyber safety resources that can be shared with your team.

Alerts

Through Chelsea Groton’s online banking system, an account owner can set up alerts so they can be notified of  sums moving in and out of their accounts, or balances reaching certain levels.

To set up Alerts, click on “Banking Services” and then on “Alerts” in the online banking system for items such as “Large Check Cleared,” “Large Withdrawal Posted”, “Current Balance Below Limit”, and “Available Balance Daily Snapshot.” This will enable you to be informed quickly of payments you didn’t authorize. These alerts can either be emailed or texted so you can receive them on the go. Alerts can help bring movement of funds to your attention quickly and without much effort!

Positive Pay

The Positive Pay Fraud Detection Service provides protection against check and ACH fraud activity for a nominal fee by monitoring checks and electronic debits processed for payment, so an authorized user on the account can reject unauthorized transactions before losses occur. Curious about how it works? Watch this brief video.

Security & Fraud Prevention Resource

Chelsea Groton Bank is proud to provide complimentary access to identity theft, scam awareness, and cyber security training and resources to all members of the community. Be sure to share our Security and Fraud Prevention webpage with your team to ensure your business is well-positioned to thwart scam attempts. Many of the resources listed are available on the Chelsea University online learning hub, where users will also discover additional courses, articles, calculators, games, and progress tracking to assist with any financial goal.

Interested in learning more? Please contact Chelsea Groton’s Cash Management team at 860-448-4295 or growthatbusiness@chelseagroton.com to discuss the Positive Pay Service and other free online banking tools, such as Alerts, that can help you monitor and secure your account.