Answer :
To provide Corporate Internet Banking (CIB) transaction access to a Partnership account, specific documentation is needed to ensure that the request is authorized by the partnership entity. The correct answer to the multiple-choice question is:
C) CIB Form + Partnership Letter
Here's a step-by-step explanation:
CIB Form: This form is necessary for applying for corporate internet banking services. It typically includes details about the partnership account and the specific services being requested. This form acts as the formal application for accessing internet banking transactions.
Partnership Letter: This is a letter from the partnership that authorizes the individuals who are entitled to access the internet banking on behalf of the partnership. It provides proof that the designated individuals have the consent and authority of the partnership to carry out transactions.
- Why it's needed: The Partnership Letter ensures that the request for internet banking services is legitimate and that the individuals who will operate the account have the necessary authorization from the organization.
In summary, to ensure accountability and authorization, both the CIB Form and the Partnership Letter are required when seeking to provide CIB transaction access to a partnership account.
