On Friday 02 November 2007 07:18, Ben Scott wrote:
> On 11/2/07, Bill McGonigle <[EMAIL PROTECTED]> wrote:
> > Do we want two signatures on a check or two signers on an account?
>
> As I recall, the decision made at the last board meeting was for
> two-signature checks. That is, checks printed such that there are
> spaces for two signatures on the front, with the idea being that
> without two proper signatures, the check is not authorized and should
> not be paid.
Suggestion: have one person not authorized to sign checks keep the
checkbook. That way, two people are involved with every check, but
only one signature from the pool is required.
Double signature checks are usually corporate checks for amounts
exceeding $10K. They usually say "Not valid for over $10K without two
authorizing signatures". So, the banks may be a little surprised for
that requirement on this type of account. And, of course, corporations
usually have custom checks printed to their specifications rather than
using stock checks from the bank.
I have had an account at Ocean Bank (formerly Granite Bank) for 20
years. I switched from a large bank to them because they gave DBA
(Doing Business As) accounts at no extra charge. I also have a company
account at Bank of New England (formerly Southern NH Bank). These are
proprietorship accounts so they are not directly relevant to the GNHLUG
problem.
Jim Kuzdrall
PS Ocean bank have branches in the Portsmouth area also. They have been
buying up local banks.
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