On Ebury Online (EBO), you control what access and management rights your contacts have, ensuring the smooth running of your account.
If you need multiple levels of approval in your business, the 4-eyes authorisation setting allows you to select a second contact on your account to approve payments, providing security for you and your clients and reducing the risk of errors occurring.
How this works:
- The primary contact is given admin permissions by the online team at Ebury to use EBO which includes the ability to manage the activation and permissions of the secondary contacts.
- You decide the contacts you want on your account at this point but if you need additional users added, you can do this at any time.
- By activating 4-eyes in settings, every payment that is allocated will have to be approved by a second contact before it can be released.
Permissions available for you and the contacts on your account:
Ability to check rates and book a spot trade on EBO.
Add and manage beneficiaries on EBO.
|Change permissions for contacts on your account.|
Add and edit beneficiary groups to manage large lists of beneficiaries or groups for payroll payments.
|Same Currency Payments||
Make same currency payments to beneficiaries.
|Manage online access||The primary contact can send EBO activation emails to secondary contacts on the account.|
|Add a payment to a spot trade or drawdown.|
|Multi-payment||Book a bulk payment (payment to more than one beneficiary) through a file upload.|
|Authorise every payment that goes through enabling ‘four eyes’ authorisation|
Drawdown from window forwards which were booked through your dealer
How to set up 4-eyes Authorisation
- Set admin user
When setting up EBO with the online team, choose your admin user, the primary contact, with manage permissions enabled
- Enable 4-eyes
Go to ‘settings’ on the account page, select ‘4-eyes’ and save
- Activate your contacts
Go to ‘Accounts’ and ‘Users’ and select ‘send activation email’ to ensure your contacts are activated.
- Manage permissions
Once activated, select manage permissions.
- Select Authorise payments
Choose ‘Authorise Payments’ and save settings. This is the 4-eyes setting and they can now authorise payments once you have booked a trade.
Using the 4-eyes function
- Book a trade and assign payment
Book a trade and assign payment to the relevant beneficiary.
- 4-eyes contact logon
The contact with permission to authorise payments will receive notification and logon to EBO.
- Review trade
On the dashboard, they can review payments pending authorisation .
- Approve Payment
Select manage payment and choose to approve or decline the payment.
- Payment sent
With approval, the payment will be sent on the value date of the trade.