Account Reconciliation
Check fraud is more prevalent than you may think
We will free your staff of the tedious and costly job of matching disbursement records to the bank's listing of paid and outstanding checks.
Our years of experience in reconciling corporate customers' accounts will translate into expert, cost-effective handling of your disbursement information. You will have better control of your cash position through accurate and timely reports.
HSBC gives you a choice of three types of reconciliations, Partial, Partial with Range and Full Reconciliation. Each service gives you accurate and reliable information. In addition to your Monthly Statement that details all account activity, each service provides a Statement Recap that summarizes all checking account statement debits and credits and proves to your account balance.
Benefits:
- Reconciliation completed by HSBC to save you time.
- Track high volume of checks quickly and easily.
- Safety features include third party reconciliation, reduced risk of unauthorized disbursement and forged check detection through HSBC's Positive Pay service.
How the Service Works
HSBC's Account Reconciliation systematically tracks your paid checks through a series of imprinted numbers unique to your company, and provides essential data, reducing your check records into usable information. No more in-house processing. Since we return your paid checks in number sequence, your review time is reduced considerably.
Complementary Services
You can also choose check safekeeping or receive cancelled checks sorted in numerical sequence with our Fine Sort Services.
Disbursement CD-ROM reduces paper and saves on filing costs. Images of paid checks are produced on CD-ROM. You can retrieve the images within seconds and produce quality copies with just a few keystrokes.
With our standard Positive Pay Service, you transmit check issue information to HSBC. The information is compared electronically against checks posted. Items not matching your issue file are reported back the next day, to you, for pay/return decisions.
