Protocol for Online Bank Payments

Mela Board Member –Abhinanda Kodanda to be the responsible lead for this policy

Introduction Preston City Mela Community Interest Company (PCM CIC) has adapted A Protocol for Online Bank Payments as part of its governance.

Protocol Step by Step

Step 1.

  1. Ensure payment request is authentic by a known service provider or for goods and service.
  2. Avoid any request for payments by cold callers or web base links sent by email.

Step 2.

  1. Confirm payee bank details are correct
  • Account Name
  • Sort Code
  • Account Number
  1. The bank details are provided through an authentic method, such as invoice or signed email

Step 3.

Ensure sufficient funds are in the Preston City Mela Bank Account before processing online payment

Step 4.

  1. Three Mela Directors Board with authorisation with the bank only carry out the on-line payments.
  1. Only Two Director signatories required to authorised payments and ensure no payments is made which may arise any conflict of interest to the payee. The On-line Payment request is completed and then sends it to the other authorised named account signature for sign off.
  1. The second signature checks the details before processing for payments

Step 5.

  1. All invoices and receipts for good and services are to be retain and filed under each programme headings ready for Accountant.
  1. Cross reference transactions with month Bank statement to avoid any discrepancies
  1. All collated payments documents, along with Bank statements to be submitted to the accountant at the end of the financial year for auditing, which is 31st October