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Fraud Protection

Safeguard your finances.

Cyber attacks and fraudulent crimes are on the forefront of every business-owner’s mind. Day-to-day transactions are what make businesses run, but there are also risks. Is your business protected from fraud? We have your back with various options available to ensure your business has proper safeguards in place.

Check Fraud Detection – Positive Pay

Our Positive Pay service helps ensure that the checks you issued are the checks that clear your account, not fraudulent ones.  Each time you issue checks you will submit an issue file to the bank.  We compare your issue file to all in-clearing items presented against your account each day. If an unmatched item is presented, you will be notified to make a decision whether or not to pay.  This service will also give our tellers an alert that the check they are about to cash may be fraudulent so it receives further review.

Check Fraud Detection – Reverse Positive Pay

As an alternative to entering check data into your online banking account, you can monitor your payment activity through a daily report of checks presented for payment. By reviewing the list, you can determine which checks should be paid and/or returned.

ACH Fraud Detection – ACH Positive Pay

Our ACH Positive Pay can protect businesses from unauthorized electronic charges to your corporate accounts.  Electronic Payment Authorizations (EPAs) can be set up to pay or return based upon a customer’s pre-defined rules.  By using a combination of a Company ID, SEC code or dollar threshold, items that do not fit the rules will be identified as exceptions which will require a decision to pay or to return the item.

For more information, call 508.228.0580 or contact one of our Business Bankers directly.

Receivables Management

Collect and process payments with ease.

Manage electronic and paper receivables with confidence and ease. Our receivables solutions allow you to collect and process payments hassle-free and with top-of-the-line technology and security.

Remote Deposit Capture

With our Remote Deposit Capture service you can make deposits right from your office locations, streamlining your check deposit process and eliminating the need to go to the bank. The product offers full reporting and transaction history for all deposits made through the system.

ACH Collections

Collect payments faster with ACH Collections. Simply input customer information into our cash management system and schedule one-time or repeat collections. This streamlined process increases payment accuracy and decreases the risk of fraud.

Merchant Services

Give your customers the convenience they’re looking for with card processing services. Accept card payments at your place of business with our retail, restaurant and mobile solutions.

Courier Service

Technology has replaced many manual tasks, but ultimately it has not replaced the need to transport physical items to the bank. Nantucket Bank can arrange to pick up your cash deposits based on your deposit frequency needs.

For more information, call 508.228.0580 or contact one of our Business Bankers directly.

Payment Management

Easily manage business expenses.

Efficiency is king when it comes to managing cash flow. You can streamline your expense management and ongoing reporting procedures with our payment solutions.

Account Reconciliation – Full

Simplify your payment processes and reduce the risk of errors with our automated account reconciliation services. When using our Full Reconciliation service you would provide us with an issue file of written checks that is matched against the check items as they post to your account. Through our online banking system, we provide you with a detailed report on paid, outstanding, stop and void items, along with a paid date and dollar amount for each check.

Account Reconciliation – Basic

With Basic Reconciliation we’ll provide you with a list of checks in the order of check serial number, date and dollar amount for each reconciliation period.  You can view the information online or export the report.

Wire Transfer Services

For customers who regularly need to move funds quickly and reliably, wire transfers are a safe and reliable payment method.  Domestic wires are immediate transfers from one bank to another using the Federal Reserve Wire Network.  International wires can be sent both in US dollars and via Foreign Exchange using our correspondent bank partner.

ACH Origination

The Automated Clearing House (ACH) Network is a nationwide system that processes electronic payments.  ACH allows you to streamline payments, accelerate receivables and reduce transaction costs. It is a very reliable and efficient method for clearing electronic debits and credits. With ACH, you can:

  • Send vendor payments
  • Make payroll disbursements
  • Submit federal and state tax payments
  • Collect business-to-business payments

Online Bill Pay

Time is a scarce resource for any business owner. Let us help you maintain that valuable resource with Bill Pay for Business, a time-saving service from Nantucket Bank. With Bill Pay you can pay your business’ bills in a fraction of the time it would normally take. You can:

  • Make payments to any person or company in the United States
  • Receive your bills electronically
  • Schedule recurring or one-time payments

Commercial Debit Cards

Make business purchases with ease using our MasterCard® Business Debit Card. Whether you need to pay for a business lunch or purchase supplies online, a business debit card is an effective way to access business funds and track expenses.  With our business debit card you can:

  • Set spending limits for each employee cardholder
  • Easily track business expenses and employee spending on your monthly statement
  • Make deposits, transfers and check balances at any Nantucket Bank ATM

For more information, call 508.228.0580 or contact one of our Business Bankers directly.

Liquidity Management

Smart solutions for managing your cash.

Managing liquidity can be time consuming and cumbersome, yet is necessary for ensuring accounts are properly funded and loans/lines are paid. Our cash management specialists can work with you to develop a solution to best optimize your working capital.

Sweep to Line

Reduce the interest your company pays on its line of credit by using Nantucket Bank’s Sweep to Line service.  This service will automatically move excess funds from your operating account to pay down your line of credit.  And, when you need cash in your checking account the service will advance funds, up to your available limit, for your disbursements or to restore your target balance.

Zero Balance Accounts

Minimize the need for funding multiple accounts with the Nantucket Bank Zero Balance Account (ZBA) service.  This service will automatically fund and collect from your company’s additional checking accounts through its ZBA sweep process, all while maintaining a clear audit trail.  ZBA also works well with Sweep to Line to help minimize interest expense.

For more information, call 508.228.0580 or contact one of our Business Bankers directly.

Information Management

Manage your money in one place.

Monitor your account activity, control payments and manage your money anytime, anywhere, and in one place with Nantucket Bank’s information management tools.

Online Banking

The Nantucket Bank eBusiness online banking solution is designed to
provide corporate clients a full–featured platform for all of their cash management needs in one place.  The online platform offers basic services like account reporting, check images, stop payments and funds transfers. Additionally, it provides enhanced services such as:

  • ACH Services
  • Wire Transfer
  • Alerts
  • Positive Pay

Reporting

Financial reports are critical to monitoring account activity and cash flow. Nantucket Bank’s eBusiness online banking service provides a variety of customizable reports including:

  • Account Summary Report
  • Account Detail Report
  • Balance History
  • Account Statement
  • Account Targets Report
  • Controlled Disbursement Report

For more information, call 508.228.0580 or contact one of our Business Bankers directly.