Answer:
I believe that most problems surround deposits from one entity going into another's account or cash back from a deposit. For the accountant this makes it extremely difficult to properly account for. In this instance, if there is similar ownership, I don't see a problem with internet banking. They can transfer funds from their account using this product the same as they could a checkbook. The problem comes if ownership is different and if one entity has access to another's account. This I wouldn't recommend. If the business wants to sacrifice access via user names and passwords, there isn't much you could do, but I would try to hold separate entities to separate access to separate accounts. As to agreement terms, decide what the capabilities are of your system, what you will allow and what you want to control.
First published on BankersOnline.com 5/14/07
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