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Money Movement Approvals

Money Movement Approval is a security feature that allows you to require admin approval for larger transactions.

You can set a daily dollar limit, and if an outgoing transaction exceeds that limit over one or multiple payments from a single team member, it will require two admins to approve before it goes out. This control applies to all permission levels on the account, though admins only need one other admin to approve if their payment(s) exceed the limit.

This feature requires at least two admins on file before you can turn it on. If you’re the only admin, you’ll need to either invite a new team member or promote an existing custom user.
 

How to enable:

  • Click your name in the lower left corner of your dashboard to open your profile panel.
  • Go to Settings, then Controls.
  • Click Set Up next to Money Movement Approvals and you’ll be asked to define your daily limit.
  • Your other admins will be notified that you want to add a control to the account. Once one other admin approves, the control will be live.
     

FAQs

What time does the daily limit reset?
The daily limit resets daily at 12am UTC and doesn’t affect internal transfers, debit card payments, or ACH pulls.

What transaction types are included within this limit?
All outgoing payments. Internal transfers, debit card transactions and ACH pulls are not included.

How do I view my team’s permissions?
Click your name in the lower left corner of your dashboard and select Team. If you’re an admin, you can click on teammates to update permissions as needed.

As an admin, how do I review pending requests?
Any payments that need approval or requests related to the control (enabling, disabling, updating the limit) are sent to all other admins via email. The requests will also appear in the Action Bar on your Mercury dashboard.

As a custom user, how do I initiate a payment?
Same as always, by clicking on the Move Money button. If the amount exceeds the daily limit, a request will be sent to admins on file for review. You’ll be notified during the payment creation stage if the payment requires additional approval.

How to turn off the control or edit the limit?
As an admin, you can make updates to the control by heading to your Controls page from the Profile icon of your dashboard. You’ll see a preview of the current control and the option to edit. Another admin on the account will need to approve any proposed changes before they are enabled.

How does the feature work for recurring payments?
Only the first payment will require approval and any subsequent payments will be automatically approved. The admin will receive an email prompting them to review the details of the recurring payment.

Can I enable the feature for certain team members?
Once the control is enabled and the limit has been set, it will effect all team members on the account.

How does this control affect the team management?
To ensure security, this feature requires admin approval to invite new admins, promote existing users to the admin role, remove or demote an existing admin. Another admin on the account will need to approve any proposed changes before the invite or role change are done.

Questions? Don't hesitate to follow up with us at [email protected].

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