Dual Authorization
for Online Transactions
Safer Online Transactions - Coming Soon!
Enhanced online transaction security using dual authorization lowers the risk of fraud activity and minimizes processing errors. Please review these critical fraud security requirements for online transactions.
What is dual authorization?
Dual authorization is a control that requires two separate people to authorize a transaction. The first user is responsible for creating the transaction, also known as the drafter. The second user validates and approves the transaction, also known as the approver.
Why is dual authorization important?
There is growing evidence and concern surrounding online fraud. Many incidents of fraud are a result of compromised login credentials; however, fraud can also be perpetrated internally. Dual authorization strengthens online controls and lowers the risk of fraudulent activity and processing errors caused by:
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Payment Scams
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Identity Theft/Compromised Credentials
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Processing Errors
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Internal Fraud
Why is Mercantile Bank requiring dual authorization?
Electronic transactions are processed quickly. Once processed, it is difficult to get funds returned. In cases of fraud, most transactions are not recovered and funds are lost. The additional safeguard of dual authorization can help reduce a company’s exposure to electronic fraud and losses.
What online transactions will require dual authorization?
All ACH and Wire transactions initiated through Mercantile Bank’s online banking platform will require dual authorization. This includes ACH Payment, ACH Collection, Domestic Wire and International Wire transactions.
How do I add additional users for my business?
If your business needs assistance in creating additional users, please contact Treasury Support at 800.453.8700 option 2 for assistance.
How do I change online transaction rights for an existing user?
If your business needs assistance updating user rights, please contact Treasury Support at 800.453.8700 option 2 for assistance.
Need help?
Contact our Treasury Support Services Team at 800-453-8700 option 2 or by email at TreasurySupport@mercbank.com. Our Treasury Support Services Team is here to assist you during the business hours of 8:00 AM to 5:30 PM ET, Monday through Friday.
Additional Resources:
This page is intended to provide awareness to dual authorization changes for online payments.