Risk Management
Superior Protection: Creating a safe and secure cash management system
There are opportunities in business to take risks. Cash management isn’t one of them. To ensure the most profitable cash management process, it’s critical to operate within a safe and secure environment. That’s where our Risk Management comes in.
Safety in an Unsafe World
When businesses plan for risks, they get insurance products to prevent losses or develop disaster recovery and contingency plans for other types of risks. What about cash management? As money flows in and out of your business, protecting it is vital. To help mitigate the risks to your cash – through both criminal activity and internal mistakes – Superior Bank provides several services: Positive Pay, Account Reconcilement, Lockbox and Debit Block.
Positive Pay
This vital service helps prevent counterfeit checks from clearing your account. By vigilantly monitoring your account, we can stop fraudulent items before they settle through normal banking channels.
Account Reconcilement
Reconcilement of your accounts is an important monthly activity. With the creation of dual control and timely reconcilement, you can assure that your business’ books are accurate and safe.
Lockbox Receivables Processing
The Receivables function is an area where controls are vital. Outsourcing this activity to your bank enhances the security of your daily receipts and lessens the security burden on your bookkeeping staff.
Debit Blocks
An invaluable fraud prevention service, Debit Blocks protect against unauthorized ACH debits from taking funds from your account electronically.
It’s Your Responsibility, Too.
To protect all parties from loss, rules and regulations exist to govern funds transfers – both through checks and electronic means. However, businesses are also required to employ reasonable controls. With Positive Pay and Debit Blocks, you’ll have the controls needed to enhance the security of your cash management process.
Want more security and less worry?
Contact your Superior Banker and learn more about a secure cash management system.
