Payment Authorisation/ Signatory for employer

dfw128

I work in a very small organisation in a relatively senior role. I've been asked by my boss to become an authoriser for payments for the organisation.

I've been asked to provide d.o.b info and address history for the past 3 years which makes me think that a credit check is going to be run (i haven't specifically been informed it will/won't).

I have outstanding debts which i pay through a DMP with the bank that the organisation is with and i'm wondering what are the chances/likelihood that as a result they will refuse to allow me to authorise payments on behalf of the company. All of the missed payments etc. are off my credit file as i've had the DMP since around 2008.

Any advice appreciated.

PixelPound

I suppose they have to check you won't run away with the money. Only your organisation can answer that. If the DMP has been kept to and no new unpaid debts, then you could raise your concerns with your boss. People have a history, and that your have past debts in a DMP, assuming you are maintaining payment could be seen as having learnt and moved on. It is better that it is raised by you now rather than they find out from the check, or you refuse and be vague why which may make your boss doubt you.

tenchy

Yes, they will be carrying out a "credit check" but the question is, what will they see? I'm sure someone will correct me if I'm wrong, but the only organisations that can see your credit history, including defaults, DMPs or whatever, are those organisations that contribute payment history to credit files on a rolling basis. If the organisation you work for is not in the business of providing credit then they shouldn't get to see anything other than identification information. As least, that's as I understand it, but hopefully someone else will confirm this.

dfw128

If i'm honest i doubt it's my company doing the credit check (as i say we are small), i think it's more likely that it's the bank and suppose that's where the concern comes from - in that they could run the credit check (but there's nothing there as pointed out above). They may well then also use information available to them from their own systems (where my information and outstanding amounts will likely be stored).

Get the point about running away with the money - our systems always need 2 people for payments one to set up and another to authorise, the problem though is the current pool of people is too small and there have been problems as a result.

Suppose i'm just embarrassed about the DMP and would rather avoid having to tell them about it if i can - though looking like i can't.

Thanks for the replies and happy to hear anyone else's thoughts, experience or knowledge of this area.

MEM62

Ignore any suggestions that there will be a credit check. There won't be.

What you will be subject to is an identity check to ensure that you are who you say you are. Banks and some other entities, such a solicitors, have an obligation to 'know who they are dealing with' under their compliance obligations, which extends to individuals as well as entities.

cjmillsnun

MEM62 is correct. The information is purely for an Identification Check.