Bank Authorities in BankFeeds
The Bank Authority form is an agreement between the entity and the bank to allow a BankFeed to be set up for an individual account. When you set up a BankFeed, you will be prompted to produce a Bank Authority automatically.
All Bank Authorities are generated in BankFeeds. Your practice must send the Bank Authority to the entity by email or post for signing. Once signed, the entity must return the form by post to the service provider. It’s recommended that you also save the Bank Authority to Document Manager or your internal filing system.
Note: The BankFeed will then be verified by the Service Provider and the Bank before the feed is activated. This can take up to 10 business days.
Generate the Bank Authority
The Bank Authority can be generated at a later date if you do not wish to generate it on the initial setup.
Log in to HandiLedger and Select your entity.
From the BankFeeds menu, click Bank Accounts.
In the Bank Account for:.window, click Feed and then Bank Authority.
Note: The General Authority form is no longer required for BankFeeds.