Company Permissions Definitions

Require MFA For Payment Over- Use secure access targets before initiating payments over the specified threshold

Require Approval For Payments over - Company requires dual-approval for all payments over the specified threshold

Required Approvals - Set the # of unique approvals required by peer reviewers.

Require MFA For Payment Approval - Use secure access target before approving a payment

Enable Mass Payment Approval - Multiple payments can be approved at the same time under the "Needs Approval" payments list.

Send Daily Approval Reminders - Sends daily emails to remind users to approve pending payments.

Require MFA For Vendor Change - Creating or editing a recipient requires a secure access target

Recipient Approval - Company requires approval for the recipient

Fixed Forwards - Company has access to create forward trades(Not currently Supported)

Enable Scheduled Payments - Allows the customer to create scheduled payments for a future date

Hide Incoming Instructions - Enabling this prevents clients from downloading/sharing incoming wire instructions to Virtual Accounts.

Enable Bulk Payments - Allows the customer to create payments in bulk. Please review the customer's user permissions to grant access to all or specific users.

Enable Recipient Invites - Clients can send invites to their recipients to input their own wire instructions into the PayRecs system.

Enable Consumer Subsidiaries - (Requires backend setup, reach out to PayRecs Support for more information) - Allows clients to create recipients and send payments for consumer subsidiaries.

Bank Approval Threshold - Any payment amount that is greater than or equals the amount entered will require a back office operator at the bank to review and approve the payment before it is released.

Greyed out options are hardcoded based on bank policies and cannot be changed unless requested by the bank. This will impact ALL companies under that bank.