Thursday Sep 09
Almshouses Blog Posts
On-line banking
By: Valerie Hanson M1609, On Thursday, 18 February 2010
Does anyone have any advice about how to maintain internal financial controls whilst operating the charity's bank accounts on-line?
Comment Comments( 3 ) Hits Views(972)
Comments(3)
Comments Janet Smith
CAF bank requires a second authorisation for online payments.
By: Janet Smith M31, On Monday, 17 May 2010
Comments Online Payments
Some banks require one person to input and one person to authorise, but most banks have no such facility. You could adopt a system whereby any payments via the online facility still must have the approval of at least two signatories (or whatever your governing document/rules state) before the transaction is carried out, and perhaps each transaction could be noted in a book and the trustees sign and date alongside, as authorising.
By: Alison Westbrook M302, On Monday, 07 June 2010
Comments Online payments
I agree completely with Alison Westbrook. We have just moved to online banking (with Nat West) and I can now authorise sums beyond my delegated powers. For both the charity's and my own security a countersigned note of expenditure is an important safeguard.
By: Stephen Dunn M650, On Tuesday, 22 June 2010