[Finance] e-Transfer for ACU account

[Zen Gagne]

What is the current signing limits/restrictions? Is it just 2 signatures
regardless of dollar amount? I suggest maybe just having one signature for
items under $800-1000 (Bill only) and two for anything over that. We will
be able to look at the statement for all cheques wrote either way. I dont
think there is much risk in the above.

Zennon


On Fri, Jul 25, 2014 at 8:55 PM, Bill <treasurer at bikewinnipeg.ca> wrote:

>      I am proposing that we enable Interac eTransfer on our Assiniboine
> Credit Union account.  This will allow us to make payments directly to Cima
> Coppi and other vendors who prefer eTransfer and find PayPal too
> expensive.  This could also be used to pay our staff.
>
>     Simple transfers are not presently available for our account since it
> requires two signatures.  However, ACU offers Online Business Banking which
> allows one of us to submit an eTransfer which will be forwarded to a second
> authorized signer and then to the payee.  That's my understanding of how it
> works.
>     It requires that each authorized signer has an online banking id and
> password.  However, any two of us could make this work so if you'd rather
> not participate you don't have to.
>     eTransfers cost $1.50.  The cheque forms we are using plus postage
> cost .59 plus .85 =  $1.44 (plus envelope) so the costs are the same.
>
>     The attached letter will be sufficient to request this service.  If
> you have a digitized copy of your signature you can add it to the letter
> and pass it on.
>
>     --Bill
>
>
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