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Take care of your bank account 13 Feb 2012

HERE are some simple tips for making sure your bank account is looked after.

It’s unsafe to throw out bank account details - your own or those of the people you pay.
Check, regularly, your on-line bank account details are the same as those shown on the creditors’ invoices. Businesses change hands.
Does your business insurance protect you from fraud?
If staff are paying the bills using internet banking, have two people authorised to make each payment. Police this rigorously. An authoriser should not be allowed to give their access token to the other authoriser when they go on holiday.

Provide for the absence of an authoriser.

Set authorisation limits for those who have access to the business bank account.

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