Dual Authorization Clause Samples
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Dual Authorization. Bank’s Standard Authorization Procedure recommends Company to require a secondary authorization for all Online Wire Transfer instructions. In order to provide the most security protection to Company, secondary authorization should be given by a different System Managers or System User using a security token furnished by Bank.
Dual Authorization. Bank’s Standard Authorization Procedure recommends Company to require a secondary authorization for all ACH Entries. In order to provide the most protection to Company, secondary authorization should be granted by a different System Manager or System User using a security token provided through the VIP Access App on a Mobile Device or desktop computer or hand-held security token issued by Bank.
Dual Authorization. Unless otherwise specifically agreed to by the Bank in writing (in the exercise of the Bank’s discretion), Dual Authorization will be established for your Accounts in connection with your use of the ACH Service and/or the Wire Transfer Service. Dual Authorization will not apply to the number of signatures required on checks, drafts, or negotiable orders of withdrawal written against your checking account(s) (regardless of whether your checking account(s) are enrolled in any Service). Notwithstanding the foregoing, the Bank reserves the right, in the Bank’s discretion, to require Dual Authorization as a condition of using the ACH, Wire Transfer, ▇▇▇▇ Pay and/or Internal Transfer Services, and as a condition for using any other Business Online Banking Service. Dual Authorization requires that all Accounts linked through a single Business Online Banking portfolio share the same Administrator. Administrator(s) must be authorized signers on all accounts in the Business Online Banking profile.