Additional factors to consider:
* Risk profile of your bank/branches
* Process for verifying signatures (on all vs. over a specified amount)
* Other monitoring systems/processes in use
* Whether you utilize positive pay on the Official Check account
At my FI, official checks are all handled uniformly, whether for cashier's checks, general disbursement checks, LIP vouchers, A/P checks, drafts, etc. The maximum limits are role based & no check requires two signatures:
- Under $10,000 - signature is printed on check by teller system
- Sr. Teller or Personal Banker - $100,000
- Operations Supervisor - $250,000
- Branch Manager - $750,000
- Division Manager - $10,000,000
- Bank Operations Manager - $20,000,000
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The opinions expressed are mine and do not necessarily reflect those of my employer.