warrenyts-ga,
Banks typically keep fairly detailed signature cards on file that
identify all individuals who are authorized to conduct transactions on
a corporate account. Historically, such cards have been just
that...cards, on paper...although these days they also may be securely
reproduced in digital format. or even submitted electronically.
The authorizations may occur in degrees. Some individuals have more
authorities than others, and are authorized to, say, move larger sums
of money in and out of accounts, arrange transfers without need of a
corporate co-signer, engage in international transactions, and so on.
Some authorized user are empowered to add or delete the names of other
users, and to manage the dissemination of passwords and accounts
within a corporation.
Any authorities or restrictions that apply to a given person are
specified on the signature card.
I conducted a fairly extensive search of the Citibank website, and
found a number of relevant documents that explain the authorizations
in a bit more detail:
==========
http://www.transactionservices.citigroup.com/corpbank/securities/agency/issuer.htm#top
CTM User Security Procedure
To Add A User:
Fax a letter to your Administrator giving the name, telephone number,
and email address of the user you would like added. Indicate whether
or not the new user should be designated as a Password Manager (see
below). The letter should be signed by a person on the Authorized
Signers list provided to Citibank during the documentation process.
The user will be added, and you will be contacted with the ID and
initial password within a few days.
To Delete A User:
Fax a letter to your Administrator indicating which user you would
like deleted. The letter should be signed by a person on the
Authorized Signers list provided to Citibank Agency & Trust during the
documentation process.
To Have A Password Reset:
To request a password reset, the user should provide the name of his
or her company, the TMS number of the program, and his or her ID. The
Security Desk will call or email the password to one of the persons
designated as a Password Manager in the documentation. If no Password
Manager is available, the Security Desk will provide the password to
another user at the Company. The password will be provided to someone
other than the user who has called or faxed the request.
==========
http://www.latam.citibank.com/venezuela/resourcs/pdf/tdf.pdf
Instructions for Completing the Signature Card
...Check the appropriate box to indicate whether this card is being
submitted for new accounts, additional names for an existing
account, or to supersede existing information.
...The signatures of all individuals permitted to instruct Citibank.
In the limitations box, indicate if any limitations exist and/or
combination of signers is required. If this box is not
completed, the signatures will be applicable to all accounts held by
this Customer entity with Citibank.
...Facsimile signatures, in the color being used, of individuals
permitted to instruct Citibank. For your protection, facsimile
signatures in any other color may be rejected by a Citibank Fraud Detection Unit.
...If the Signature Card is used both to formally designate account
signers and to provide signature samples, this box must be
signed by person(s) duly authorized to designate account signers on
behalf of the Customer.
How to Delete a Name
...Submit a letter on company letterhead signed by an authorized
signer as specified in your company?s organizing documents.
...Each individual named on this form (or in other written form
acceptable to Citibank) is permitted to credit, debit, or otherwise
operate any Account on behalf of the Customer for the purposes of any
service provided by Citibank, subject to any restrictions set opposite
his/her name. Details of any individual permitted to transmit
instructions to Citibank by telefax, telephone, telex, or other
methods are to be set out on a separate document (or in other written
form acceptable to Citibank).
==========
A somewhat different version of the same sort of instructions can be seen here:
http://www.citi.com/slovakia/homepage/pdf/english/customeraf.pdf
Citigroup® Global Transaction Services
Customer Activation Form - Global Account Documentation
Account Documentation for Existing Corporate Clients
==========
For a more in-depth look at the requirements for adding, deleting or
otherwise modifying authorizations on a corporate account, have a look
at the set of documents available here:
http://www.latam.citibank.com/corporate/lajmco/english/transact/cashmgmt/accopdoc.htm
Account Documentation for Existing Corporate Clients
including:
Customer Activation Form
http://www.latam.citibank.com/corporate/resourcs/pdf/custact.pdf
Corporate Resolution
http://www.latam.citibank.com/corporate/resourcs/pdf/scards.pdf
...If signatures are being removed, a letter is required from the
company, verified by the Company Secretary or as dictated by the
company?s Corporate Resolution
Manually Initiated Funds Transfer
http://www.latam.citibank.com/corporate/resourcs/pdf/gadmift.pdf
I trust this information fully answers your question.
However, please don't rate this answer until you have everything you
need. If you would like any additional information, just post a
Request for Clarification to let me know how I can assist you further,
and I'm at your service.
All the best,
pafalafa-ga
search strategy -- Personal knowledge, along with a search of the
Citibank site for various terms including:
corporate account
signature card
authorization
"adding a user" |
