Can I make payments from the trust bank account using electronic funds transfer (EFT)?
Regulation 3.3.13 provides for practitioners using electronic fund transfers from the trust account, given the appropriate records are maintained. Remember: The same internal controls must be implemented for electronic fund transfers, as those adopted when signing trust cheques. The control of password security by a practitioner is just as essential as signature security on a cheque.
Related Questions
- Can I also enroll in NYSEGs Electronic Funds Transfer (EFT) service and have my bill payments automatically deducted from my checking account if I enroll in NYSEGs e-Bill service or another online billing service?
- How do I get my compensation checks directly deposited into my bank account using Electronic Funds Transfer (EFT)?
- Can I make payments from the trust bank account using electronic funds transfer (EFT)?
