What are Approved Persons and Authorised Users?

Approved Persons are authorised by the board of directors or partners (as applicable in the case of corporations, partnerships and limited liability partnerships) to have general control and authority to operate and deal with the account. They will have broader powers and control such as setting transaction limits, opening new accounts or applying for new loans.

Authorised Users are operators / users who are appointed by Approved Persons to deal with the day-to-day operations of the account. For example, they are able to view balances, perform withdrawals, fund transfers, and loan drawdowns etc.

A corporation, partnership or limited liability partnership intending to apply for Products and Services (including the Mari Business Account and/or the Mari Business Loan) with MariBank would require its Director(s) / Partners / Major Shareholder(s) (as the case may be) to approve its application for the Product and Services, as well as appoint its Approved Persons and Authorised Users, by way of a resolution.

Read here on more details on the Accounts, Facilities & Services Resolutions.