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How to change Bankera business account user rights and limits?

At Bankera, we offer a layer of customization for managing our business users’ accounts. Business account administrators are allowed to edit their account users’ access to IBAN accounts, manage their payment limits, and grant or revoke admin privileges.

This feature is especially beneficial for companies that have several users with different responsibilities assigned to the Bankera account. In this way, users have access to only a limited amount of functions that are required for fulfilling their role. For example, it is possible to set up dual payment signatures that would allow the accountant to create a payment pending approval of the company CEO.

Please note that user rights and limits can only be changed by an account user with admin privileges.

How to change the rights of a Bankera business account user?

1. Open the user menu in the top right-hand corner of the Bankera platform. There, press on ‘Account settings’.
2. In the account settings window, open the ‘Accounts’ section and press on ‘User rights’ in the list displayed on your left-hand side.
3. Users list will be shown. Choose the user whose rights are to be updated.
4. It is possible to modify two users rights at the moment.

Admin rights – grant or revoke admin rights. Please note that admins can modify other users’ rights and limits.
Access to accounts – choose with which IBAN accounts the user can interact with. It includes checking the account balance and transactions, as well as downloading statements. Users who are not assigned to the IBAN account will not see any information related to it.

5. After the rights are modified, press ‘Save changes’ and confirm them with your preferred second-factor authentication method.

How to change the limits of a Bankera business account user?

Payment limits of Bankera accounts are universal – it means that the limit will apply to all IBAN accounts that the user is assigned to. For example, if a user has a daily limit of 5,000 EUR and is assigned to two IBANs, they will only be allowed to spend a 5,000 EUR equivalent from both accounts, e.g. 2,000 EUR from Account 1 and 3,000 EUR from Account 2. User rights and limits can only be changed by an account user with admin privileges. To change the limits of a user:

1. Open the user menu in the top right-hand corner of the Bankera platform. There, press on ‘Account settings’.
2. In the account settings window, open the ‘Accounts’ section and press on ‘User rights’ in the list displayed on your left-hand side.
3. Users list will be shown. Choose the user whose limits are to be updated.
4. There are three types of limits at Bankera:

Transaction limit – the amount to be spent on a single transaction.
Daily limit – the amount to be spent in one day.
Monthly limit – the amount to be spent in a calendar month.

Enter the desired limits in their corresponding fields and click on ‘Save changes’.
5. Confirm the changes with your preferred second-factor authentication method.

How to set up dual signatures?

You may also set up dual signatures, a system that splits the payment initiation process between two users, for your Bankera business account. In this way, payment is created by one and confirmed by another account user.

Dual signatures are one more way to internally control and manage the payment flow within your company. The main purpose of dual control is to assure wire transfer transaction security which is guaranteed by a two-step payment initiation process. Payment is created by one account user (initiator) and confirmed by another (approver), in this way ensuring the legitimacy of payment by two separate individuals.

To set up dual signatures for your business account, you require at least on payment initiator and one payment approver:

Payment initiator – usually used for accountants and other regular company employees. The initiator’s payment limits should be all set to 0. In this way, they will only be able to create payments and save them for confirmation of the approver.
Payment approver – usually used for top-level managers and company owners. The approver’s limits should be non-zero, as the figure of limit will be equal to the sum of payments that the approver will be entitled to confirm.