Business Online Banking Security
If Flagship Bank contacts you regarding suspicious activity with your on-line banking, we will not ask for your log in password and you should not give it to anyone who is claiming to represent Flagship Bank. You may be asked for your internet banking User ID.
If you notice suspicious activity with your on-line banking access, please contact Flagship Bank at 952.473.1959 (Wayzata office) or 952.944.6050 (Eden Prairie office).
Business account holders with on-line banking access are urged to periodically perform assessments of their internal controls and add additional security measures as needed (when higher transfer limits are granted or for high-dollar transactions). Enhanced security controls include dual control, specifically for users with ACH capability (a sub-user has access to only create the file, the administrator transmits the file). Additionally, Flagship Bank requires the use of an electronic token for business on-line banking customers having ACH access.
Alternative Risk Mechanisms
Other security and risk measures the bank has available include:
- Positive Pay or debit blocks to limit what items can access your account;
- Dual control authorization;
- Electronic token requirement for customers with ACH access;
- Transaction limits;
- Enhanced controls over account activities; and
- Enhanced control over changes to account maintenance activities performed by customers online
Protections Provided / Not Provided under Regulation E
The protections provided under Regulation E are only applicable to consumer accounts. If you have additional questions about Regulation E, please contact your banker.