Sally Nash’s Post

Check fraud may seem old-fashioned, but it’s still a real threat. The good news? You can protect your money and say goodbye to writing checks with our Bill Pay tool in Digital Banking. With Bill Pay, you can: • Pay all your bills in just minutes • Send payments to almost anyone, all in one place • Enjoy the convenience of never writing checks again Stay in control and keep your money safe by paying bills digitally, whenever and wherever it works for you. Log in today and look for Pay My Bills to get started! #FirstFinancial #DigitalBanking #FraudAwarenessWeek

The digital age offers a convenient way to do business, but it also creates opportunities for scammers. One particularly deceptive tactic preys on sellers' trust: fake payment confirmations. In this scenario, a scammer, posing as a buyer for your goods or services, sends you a fabricated receipt or confirmation email. Believing you have been paid, you unwittingly fulfill the order, only to later discover that no funds were ever transferred.   Do not fall victim to fake payment confirmations! Here is how to stay safe: · Verify directly with your bank: Every bank has unique notification features. Do not rely solely on the email or message you receive. Log in to your online banking or call your bank directly to confirm the payment's legitimacy. · Scrutinize the details: Compare the payment confirmation with previous notifications from your bank. Look for inconsistencies in format, logos, or language. · Check your balance: Do not release goods or services until the corresponding amount reflects in your account.   Beware of red flags: 1. Payment confirmations from phone numbers: Banks typically use email or secure messaging for notifications. 2. Screenshots as proof: Banks send official notifications, not screenshots. 3. Requests to return "overpayments": Never send money back based on a sender claiming they sent too much by mistake. 4. Make sure to cut the call in order to verify all of the steps shown above. Take your time and do not rush to take action until you are 100% sure that this information being shared with you is true. 5. Report this to the financial institution or law enforcement. #MyCBE #ConsumerProtection #FinancialLiteracy

Going to see more of this as businesses clamp down on unauthorized channels and not just in banking and financial services. Any business using consumer channels for business communications leaves itself exposed to legal and regulatory problems. They are convienent but not compliant. DropVault #whatsapp https://lnkd.in/d2dEXRdT

Most of us appreciated this weekend of rest before all the admin stress starts of checking and loading month-end payments. Unless you're a Bank Zero customer... then this week is easy too. Why? Because the team at Bank Zero loves solving real problems which both individuals and businesses have to struggle with far too often. One of those is the frustration of having to spend so much time paying all those many bills at the end of the month - requiring a big heap of payment transactions. On the Bank Zero App all these payments can be made in ONE go from ONE single screen. And if you find your phone screen too small to create those payments? That frustration has been solved for too. Just use your computer to list them in one csv file, and then upload that file. Simple. Easy. The way banking should be. #DigitalBanking #AppBanking #NeoBank #BusinessBanking #PersonalBanking #ZeroFeeBanking #FreeBanking #PowerfulBanking #InnovativeBanking #SecureBanking #CustomerService #CustomerExcellence #PayMany

#CreditUnion and #CommunityBank marketers: Are you worried about emailing new account holders too much? You shouldn't be. If you are, you're most likely not emailing them enough. Keep these 3 ideas in mind: 1 / New account holders need and want guidance. 2 / New account holders don't know yet if you're right for them. 3 / New account holders need reminders -- people are busy living life. One thing consistent at the #FinTechs I've worked with and at large digital banks like Chime and SoFi is... All of these digital banking firms send 6-8 emails in a new account's first week. And after the first week, some still send emails daily while slowing down to an email every ~2-3 days for the first month and beyond. (Tip: After about 3 months, new accounts can move to a 2-4 emails per month cadence.) But don't "send emails just to send emails" -- send every email with a purpose. Here's what to do: Map out the new account holder's journey for the first week, month, and 90 days. If you can, tailor the journey by product/service along with other data points. Create an "email journey" with every email designed to guide your new accounts to get to know you and ensure they get the most out of their relationship with you. It's your job to use these emails to prove to the account holder that they made the right choice choosing you -- make things easy and engaging. Don't know where to start? Start with making sure you have emails in place for the first week after a new account is opened.

Here’s two of my experiences during #nationalcustomerserviceweek: 1. Big Bank’s real-time fraud detection blocked my new online payee. To unblock: call in, hold for 30 minutes, gave up and request callback option. Two hours later someone calls me asking for personal information that I don’t want to give. The only option from that bored and tired employee - call in and queue again. 2. Small Bank Ltd also blocked my online payment. Relationship manager emails me five minutes later asking me to call, answered in 20 seconds, payment released in another 30. Small Bank’s internet banking may be clunky but its people make it work - with human discretion and creativity directed to solving for the customer. But in theory Big Bank will win - using its scale to invest more, automate the failed process and perhaps even use an intelligent machine with a controllable “warmth” setting to appear more empathetic than their humans. But I’m not convinced. As the tools to do the automation get cheaper and easier to use, they become available to smaller players. And scale isn’t an advantage if you aren’t using it for the customer’s advantage

Do you know if you've been affected by Cash App's class action settlement due to alleged data breaches? If you are, you have until November 18, 2024 to claim up to $2,500 if you qualify. #personalfinance #finance #classactionsuit #moneymanagement #NAMICNY

Why lose revenue on transactions your fraud tool declines? Worldpay offer our guaranteed payments service for declines-only. We receive all your declines (after your fraud tools say no), our platform will look to provide an uplift in approvals and provide immediate impact on top-line revenue. This is new money on fulfilled orders you would have otherwise declined. Increased top line sales sound good? Lets talk! (Cute photo of Lola my retriever to get your attention only 😘)

🎃 Is Check Fraud Giving You Chills? Halloween isn’t the only time for scares—and for businesses, check fraud can be downright terrifying! With check fraud on the rise, relying on traditional paper-based payments could leave you open to spooky risks. Enter CheckAlt's Catch! solution. Catch! keeps online banking bill payments online as intended, slashing the risk of fraud while speeding up payment times. By connecting directly with biller networks and registering businesses with the online bill pay database, Catch! prevents these payments from converting to paper (and getting sent through the mail). The result? Faster processing, enhanced security, and simplified receivables management. This Halloween, don’t let your receivables become a horror story. Visit https://hubs.ly/Q02Ws2qs0 to learn how Catch! can help you keep your business safe from the creepiest of fraudsters. #CheckAlt #checkfraud #payments #halloween

Would you believe me if I told you, Instead of waiting 7 days to receive payments, we can cut it down to 2 days. That’s a 70% decrease. The way we do this is pretty simple. All we’re doing is finding ways to stop the billions of online bill payments from converting into paper checks. Many people don't realize this, but banks actually end up mailing physical checks to the merchant. This slows everything down, heavily. Then adding things onto this like late fees and lost checks, so much could go wrong. Our thought process is simple, why should online payments ever get turned into checks? That’s what the Electronic Lockbox does. We keep the payments flowing electronically. Just like you, I don't want to wait seven days when it can take two. That's why we made everything digital. DM me to learn more about the E-Lockbox.