Dual Authorization definition

Dual Authorization means a systematic requirement which requires that two different operator identification codes be used to approve all outgoing Payment Orders.

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Dual Authorization means a process under which a Business Customer may appoint an Initiator and an Authorizer to perform certain operations under Internet Banking.

Dual Authorization means a process under which a User may request approval to complete the performance of certain operations or transactions through Digital Banking.

Examples of Dual Authorization in a sentence

• Dual Authorization can be created when setting up Roles for Sub Users and may be controlled by setting dollar limits within the Sub User’s Role.

• You may implement a Single Authorization or a Dual Authorization for the authorization of transactions involving the movement of money.

• Dual Authorization does 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 Credit Union reserves the right, in the Credit Union’s discretion, to require Dual Authorization as a condition for using any of the Business Digital Banking Service(s).

• We recommend the use of Dual Authorization as added protection against possible fraud.

• Dual Authorization may not be available for use with all Services within the Digital Banking service.

More Definitions of Dual Authorization

Dual Authorization. Approval by two (2) Delegates (Administrator(s) and/or additional User(s)) that is required in order to release transactions initiated or requested using the ACH Service, the Wire Transfer Service, and (in the Bank’s discretion) the Bill Pay Service, to the Bank for processing. Dual Authorization requires that all Accounts linked through a single Business Online Banking portfolio share the same Administrator and also share at least one additional Delegate.