I am the treasurer of a local club. All cheques and other transactions require two signatures, mine and that of the secretary.
The secretary likes to purchase items for the club on ebay, and it was
agreed by the committee that the club open a Paypal account to pay for
them. The worrying aspect is that the secretary was able to set up a
direct debit with our bank in favour of Paypal online with no
signature at all, let alone two.
The bank says they can do nothing to prevent this.
What is the legal position?
- posted 8 years ago