Business Internet Banking

What are Signature Groups?

Signature Groups refers to the grouping of Primary User(s), Secondary User(s) or a combination of such users, which are defined in relation to the authorisation requirements set up of each account, for the purpose of authorising transactions in Business Internet Banking.

How many signature groups are allowed in Business Internet Banking?

You can have one or two signature groups in Business Internet Banking.

What are the rules in setting up the authorisation matrix?

The following three rules must be observed in setting up the authorisation matrix:

• The limits for two Group A signers must be greater than the limits for a single Group A signer. (A+A>A).
• The limits for two Group B signers must be greater than the limits for a single Group B signer. (B+B>B).
• The limits for a Group A signer plus a Group B signer must be greater than the limits for a single Group A signer or a single Group B signer. (A+B>A and A+B>B).

What does authorisation in Business Internet Banking mean?

Authorisation in Business Internet Banking means approval of transactions. This allows you to delegate different staff to have different levels of access to your accounts. A user can authorise transactions up to his/her daily transactional limits and/or transaction type limits, subject to the authorisation requirements of the account(s).

If a user creates a transaction but does not have sufficient limits or is not of the correct signature group to authorise it, the transaction must be approved by other users with sufficient limits and / or of the correct signature group.

What is Dual Authorisation?

Dual authorisation refers to the requirement to have two different authorisers with sufficient transaction limits and correct signature grouping to authorise transactions.

Under Dual Authorisation, how does the first authoriser know if the second authoriser has signed the transaction?

After a transaction has been authorised by two authorisers, the names of both authorisers will be shown under the transaction acknowledgement pages and the item will no longer be in the transaction authorisation screen.

Under Dual Authorisation, what is the time window for the second authoriser to sign after a transaction has already been signed by the first authoriser?

The second authoriser must sign the transaction on or before the value date. Otherwise, the transaction will not be executed. In addition, the pending item will only be available in the pending list for 30 calendar days once it is created.

Under Dual Authorisation, can the second authoriser amend the transaction details after the first authoriser has signed the transaction?

Yes, the second authoriser can amend the transaction details after it has been signed by the first authoriser. However, the first signature will be voided and the transaction must be signed again by another authoriser (other than the one who amended the transaction details).

Under Dual Authorisation, can the first authoriser notify the second authoriser to sign on urgent transactions through Business Internet Banking?

No. Business Internet Banking currently does not provide this function. The two authorisers must contact each other directly.

Under Dual Authorisation, is a transaction counted towards both User's daily limits?

Yes for cash transactions, the transaction will use both Users' daily limits. For trade related transaction, only company's credit limit with the Bank will be checked, and no daily transaction limit will be referred.