ACH Security

ACH origination security safeguards. 

 

Middletown Valley Bank Cash Management Companies who utilize ACH origination are responsible for establishing and maintaining procedures to safeguard against unauthorized ACH entries or files. No individual should be allowed to perform services on behalf of a Company in the absence of proper supervision and safeguards.

Companies should take necessary steps to maintain the confidentiality of the following provided by Middletown Valley Bank:

• Security procedures
• User IDs
• Passwords
• PINs
• Tokens
• Codes
• Security devices
• Related instructions
• Account information

If the Company believes or suspects that any related information has been accessed by an unauthorized individual, the Company should immediately contact MVB by calling (844) 533-9211. Notifications made will not affect any transfers made in good faith prior to the notification and within a reasonable time period to prevent unauthorized transfers.

In addition to MVB security procedures, the Company should maintain all data security requirements contained in the National Automated Clearing House Association (NACHA) Rules. It is necessary to protect account numbers used in the initiation of ACH entries and files by rendering them unreadable when stored electronically (as required by the NACHA Rules). 

The Company understands and agrees that they are responsible for the authenticity of any ACH entry or file transmitted to MVB.  MVB strongly recommends that the Company utilize the following security procedures:

1. Establish verification email at the time of set up. MVB recommends continued utilization of these notices. If the Company chooses to turn off these notices, the Company acknowledges the increased risks associated. 
2. Utilize dual control processes.
3. Maintain security tokens for an added layer of protection.
4. Ensure current virus and malware has been installed on Company computers.
5. Establish procedures to review and remove any employees no longer employed in a timely fashion.

 

*Notice: If a Middletown Valley Bank Cash Management Company chooses to utilize the Company's security procedures instead of the ones provided from MVB, the Company acknowledges it has chosen a procedure that affords the Company less protection from unauthorized activity and elects to accept the additional risk and waives any liability to MVB for losses caused by such procedures.