Hills Bank & Trust has serious security flaws and zero fraud protection for
business accounts. I had $95,000 stolen out of my business account via
electronic transfer on their website and Hills Bank could not figure out
where the money went. The fraud department could not recover my $95,000.
resulting a $95,000 loss in my business account.
I contacted the FBI and I was told that community banks such as Hills Bank &
Trust don't have the security measures in place to protect their clients for
internet fraud like big national banks do. For instance, a red flag should
have been raised immediately when tranfers exceed $20,000 instead of letting
$95,000 transfer without any confirmation. On top of that, Hills Bank fraud
department could not figure out where the money was transferred to nor
recover any of my money.
I had been a customer for Hills Bank & Trust for over 30 years, if this
could happen to me, this could happen to anyone. It is not safe to put your
money at Hills Bank, FDIC only insures personal checking and not business.
If you have a business account with Hills Bank & Trust, move it to a
bigger bank like Wells Fargo. Hills bank & trust has a fraud department
that's completely incompetent. This is a $95,000 lesson for me, I would
never ever put my business account at Hills Bank and I would suggest you to
do the same. read more