Almshouses Blog Posts
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On-line banking
By: Valerie Hanson M1609, On
Thursday, 18 February 2010
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| Does anyone have any advice about how to maintain internal financial controls whilst operating the charity's bank accounts on-line? |
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Comments(3)
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CAF bank requires a second authorisation for online payments.
By: Janet Smith M31, On
Monday, 17 May 2010
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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
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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
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