Online Payment Control examples
Online Payment Control allows you to choose two or three registered Internet Banking users to authorise some or all of your business’ online payments.
It means that authorised users can make secure payments from anywhere in the world – as long as there’s internet access.
Online Payment Control allows you to set individual payment limits for each of your authorised Internet Banking users. This gives you greater control over how your business or organisation makes payments.
For example, if you and your business partner want your bookkeeper to make online payments of up to £1,000, your bookkeeper will need to registerfor Online for Business. as a full access delegate for Internet Banking.
Once registered, you or your business partner can log on to Internet Banking, choose 'manage payment control' and set your bookkeeper’s limit to £1,000 per transaction. You can then change this limit whenever you need to.
This will allow your bookkeeper to make individual payments up to £1,000 without anyone needing to authorise these payments.
They can also set up payments above the £1,000 limit, ready for you or your business partner to approve.
For example, if a business has three partners and a bookkeeper, two of the partners may be required to authorise all payments by signing cheques prepared by their bookkeeper.
If the bookkeeper is registered as a full access delegate and is set up as 'create only' by one of the account signatories, then the bookkeeper can create payments, and any of two of the three partners can authorise them online.
In addition, all three will be able to set up and authorise a payment, which can then be authorised by either of the other two.
For example, a charity may require three people to authorise all payments, while eight are authorised to sign cheques.
Online Payment Control allows each signatory to register for Internet Banking and any of them will be able to set up and be the first authoriser – any two of the other seven signatories will then be able to complete the online payment.
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Important legal information
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Telephone: 020 7626 1500
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