Implementing Internal Controls in Holdings

At Holdings, we know that safeguarding your funds is crucial. That's why we've introduced Money Movement Controls, a powerful feature designed to give you peace of mind and an extra layer of protection when managing your business finances.
What Are Money Movement Controls?
Money Movement Controls allow you to enable dual approval for any transaction initiated within Holdings. These are the proper internal controls that auditors like to see, and teams implement to safeguard assets. Every financial move gets a second set of eyes for review and approval, ensuring every decision is made carefully and confidently.
How to Enable or Disable Money Movement Controls
Note: You must be a SuperAdmin to enable or disable this feature.
Log in to Holdings and navigate to the Team tab.
Select "Add money movement controls."
Toggle "Money Movement Admin Approvals."
Once enabled, you'll see "Controls Active on your account."

Sending Money with Controls Enabled
Note: Members, Admins, and super admins can initiate transactions; however, a second approval is required.
Log in to Holdings and navigate to the Activity tab.
Select "Move Money."
Enter details like direction, amount, bank account, and type of movement.
Request Approval for the transaction.
A confirmation email will be sent for approval!

Approving or Declining Transactions
Note: Only an Admin or SuperAdmin can approve transactions, and it cannot be the same user who created the transaction.
Log in to Holdings and go to the Activity tab.
Select the transaction marked "Pending Approval."
Review the transaction details.
Choose "Approve Money Movement" (this action will move funds) or "Decline Money Movement."

Should You Enable Money Movement Controls?
It's best practice to ensure that no single person can create and authorize a transaction. While smaller companies might not face this issue, having these controls is crucial for passing financial audits.
We recommend implementing Money Movement Controls but recognize that situations vary. Discuss this with your executive team and any external finance services.
At Holdings, we're more than just a banking partner; we're a community of entrepreneurs, innovators, and dreamers. Enable Money Movement Controls today and experience the difference of banking with a partner who truly has your back.
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© 2023-2024 Holdings Financial Technologies Inc. All rights reserved. Holdings is a financial technology company, not a bank. Banking services provided by Evolve Bank & Trust, Member FDIC
Funds deposited in your Holdings account are held by Evolve Bank & Trust, Member FDIC. The standard deposit amount is $250,000 per depositor, per insured bank, for each account ownership category. Through Evolve's Sweep Program, funds may be eligible for up to $5M in FDIC insurance. Find additional information about the Sweep Program here