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As a Nominated Representative of an IMB business account, what can I do?

Once properly authorised by the individual/s that control an IMB business account, a Nominated Representative can within IMB Internet Banking, view and manage (stop) consumer data sharing arrangements for the business on any of the eligible open and closed accounts held by the business with IMB.

IMPORTANT: a Nominated Representative will be able to share CDR data (including transactions, balances and payees) for all accounts owned by the business. This includes accounts closed within the last two years and accounts the Nominated Representative may not have transactional access to currently within their IMB Internet Banking profile. For example, an individual may only have access to complete transactional banking on one of the business’ accounts (e.g. daily transactional account) as an Authority to Operate, however, via consumer data sharing, a Nominated Representative can share CDR data (not transact) on any accounts held by the business which may include other savings, investment and loan accounts.

If a Nominated Representative’s authority is removed by the individuals that control the business:

  • They will no longer be able to set up or manage CDR data sharing arrangements or access the CDR data sharing dashboard within IMB Internet Banking.
  • Any active CDR data sharing arrangements created by the Nominated Representative will remain active until they expire, or until such time that the business (i.e. individuals that control a business entity) asks IMB to stop sharing the CDR data. Refer below in respect to revoking CDR data sharing arrangements.

To stop a consumer data sharing arrangement established by a Nominated Representative, or, to remove an individual as a Nominated Representative you will need to complete the 'Business Member CDR Data Sharing Nomination & Cancellation Form’. Click here for the form, or alternatively, please contact us on 133 462 or visit a branch for further assistance.

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