Skip to content
Thread Options
#1132016 - 02/18/09 08:45 PM Internal accounts and signatories
Tryin-2-Comply Offline
100 Club
Joined: Apr 2003
Posts: 202
Hills of TN
We have many internal accounts and are curious as to how other banks handle the signatory authority - employees come and go and sometimes there are numerous employees on these accounts or there are numerous accounts the employee leaving is on. It is a constant struggle getting these re-signed with current signatories. We are considering having a signature card that states "see signatory matrix maintained by HR" or something similiar in which this would eliminate re-doing a signature card each time an employee leaves, transistions into another position, etc.

Other suggestions are welcome and apprciated....Thanks.

Return to Top
Deposits and Payments
#1132240 - 02/18/09 11:49 PM Re: Internal accounts and signatories Tryin-2-Comply
rlcarey Online
10K Club
Joined: Jul 2001
Posts: 79,633
Galveston, TX
This is purely an internal control issue and banks manage the controls in a variety of manners. A centralized list is one way to do it and is usually the simplest.
The opinions expressed here should not be construed to be those of my employer:

Return to Top

Moderator:  John Burnett