Authorising Online Payments From Your Charity

We all safeguard our Charity’s┬ábank account by having authorised signatories when issuing cheques, but what happens when a payment is made electronically?

Some banks offer a service whereby one authorised person logs into the account and sets up a payment, then a second authorised person logs into the account with a different password to authorise the payment.

However, we have recently seen an ‘in house’ form which has been produced, whereby the authorised signatories can sign to verify the electronic transaction. This seems a much more straightforward way of safeguarding the account – and also may avoid further bank charges!

If you would like further information about this, please contact us here