Processing client payroll payments
I have a payroll client who currently pays the staff by cheque which they hand write from the payroll information I provide.
They are looking to move to paying by internet banking and have asked if I would be willing to set up and then process the payments each month.
I'm a little uncomfortable with the thought of this, but don't want to be unhelpful so would welcome your thoughts..
With a previous client (who banked with Nat West) I could program online payments for them but needed a director/staff member to independently "release" or approve the payments before they were made. This I was comfortable with.
The client in question this time banks with Lloyds and do not know if they have a similar two-tier authorisation option available.
1. Does anyone know if Lloyds has this option?
2. Does anyone else make payroll payments on behalf of their clients?
3. What kind of wording would I need to add to my engagement letter to cover this?