Control Services

Cash Managment - Collection Services - Disbursement Services - Information Services 

Automated Clearing House

The Automated Clearing House (ACH) system is a nationwide electronic payment and collection network that allows transactions to be posted to accounts at virtually all U.S. financial institutions. The ACH system enables you to originate three primary types of transactions when you transmit data:

1. Employee/Consumer Direct Deposit:
• For issuing payroll, expense reimbursement, dividends, interest, annuities, etc.
• Electronically credits recipients checking or savings account.

Features and Benefits
• Reduces costs of payroll administration and distribution time.
• Eliminates check purchases and processing time.
• Provides complete audit trail for payments.

2. Consumer/Preauthorized Payments:
• Electronic collection of receivables such as insurance premiums, utility bills, mortgage and rental payments, etc.

Features and Benefits
• Accelerates funds availability.
• Accommodates variable and fixed rate payments.
• Helps reduce bad check expense.

3. Corporate Cash Concentration:
• Electronic transfer of funds from a non-Fidelity Bank account to a Fidelity Bank account. Used by companies to gather cash from outlying deposit accounts into a central concentration account.

Features and Benefits
• Less expensive alternative to depository transfer checks or wire transfers.
• Eliminates idle finds in outlying accounts.
• Keeps track of funds from multiple locations.

Positive Pay

This service helps detect and stop check fraud. With Positive Pay, each time you issue checks, you send an electronic file to Fidelity Bank containing the individual check serial numbers and amounts. We then build a cumulative check register from the files you send and compare every check presented for payment against it. Any check whose serial number and amount do not match exactly with a check issue record is reported to you as a possible fraudulent item. We hold the check in question until we receive your instructions to either pay or return it.

Features and Benefits
• Company is protected against fraudulent check activity.
• Potential financial loss savings.
• Customer has “pay” or “return” control on “suspect” checks.
• The customer’s account is fully reconciled at the end of the account period.

Master Repurchase Agreement

Fidelity Bank’s Automatic Investment product electronically links your company’s account to highly liquid overnight investments. The service manages your cash position to your company’s greatest advantage. Your account will continue to operate as a standard demand deposit account with unlimited withdrawals, deposits, etc. Each night after all transactions (debit and credit) have posted, any collected funds remaining in your account in excess of a set target balance are invested overnight.

Automatic daily utilization of excess balances eliminates to need to automatically transfer funds between your account and another investment product.
The investment account option within this product is not FDIC insured.

Features and Benefits
• Overnight investments automatically mature and are credited to the account daily.
• A competitive yield is earned on excess funds.

ACH Monitor

ACH Monitor helps you prevent and stop electronic fraud in one of two ways––Total Block or Filter.

1. Total Block - will prevent any ACH item received for posting to your selected account(s) and is returned unpaid automatically.

2. Filter - allows you to establish approved ACH transaction originators for one or more of your accounts. You can also specify parameters on transactions, such as maximum dollar amounts, one-time or ongoing authorization status, and expiration dates. Once your authorization criteria are established, any exceptions are reported to you for pay-or-return instructions.
Features and Benefits
• Account protected against electronic fraud losses.
• “Pay” or “return” option on all ACH transactions.

Contact info:

Contact your business relationship banker or your local branch for more information.