KudoZ home » German to English » Finance (general)

namensgeschütztes Konto

English translation: access limited to authorized signatories

Advertisement

Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs
(or are passionate about them). Participation is free and the site has a strict confidentiality policy.
12:33 Sep 15, 2007
German to English translations [PRO]
Bus/Financial - Finance (general)
German term or phrase: namensgeschütztes Konto
This is from an application to open a corporate account. The client has provided a sample form which matches in many cases the new translation.

In this instance, I am not sure whether they are the same. The reference translation is generally OK but has a few errors and stylistic deficiencies.

Source: Gesellschaftskonto/-depot als Namensgeschütztes Konto/Depot (gemäß Sonderblatt Namensgeschütztes Konto/Depot)

Proposed target: Corporate / securities account with special account / securities account heading (as per special sheet)

Could anyone confirm or otherwise whether these are in fact the same?

Danke im voraus

Simon
xxxPoveyTrans
Local time: 09:32
English translation:access limited to authorized signatories
Explanation:
Example:

"Partnership Business Account Application
Belco Community Credit Union

[...]

Type of Organization (check one):
 Limited Partnership
 General Partnership

(1)Applicant and all Authorized Signatories on accounts of Applicant maintained at Credit Union understand that all accounts and services appliedfor may be subject to approval. Applicant and Authorized Signatories authorize the Credit Union to verify any information provided on thisapplication, to inquire of references and account relationships, to obtain business and consumer reports from credit reporting agencies on Applicant and Authorized Signatories, and to acquire information concerning performance under account relationships with third parties. Applicantand Authorized Signatories authorize any person, association, firm or corporation to furnish, on request of this Credit Union, information concerning our affairs. Each party who signs this document authorizes the Credit Union to accept a facsimile copy of this document and agrees that each party’s signature thereon shall have legal force and effect as that party’s original signature. Each signer agrees to accept any risk associated with Belco Community Credit Union’s acceptance of a facsimile signature.

[...]

(2)Specimens of the signatures of those authorized (“Authorized Signatories”) to make withdrawals from the account(s) and to act in conjunction therewith are indicated below,and Credit Union is authorized to act upon the request of Member bearing any of such signatures, including, but without limiting the generality of the foregoing, the pledging ofthe account(s) in whole or in part as security for any loan made by Credit Union to Member, ..."

This means that only those persons whose signature specimens are shown on a particular sample sheet are authorized to sign checks, make withdrawls, etc.

--------------------------------------------------
Note added at 8 hrs (2007-09-15 21:18:04 GMT)
--------------------------------------------------

http://72.14.253.104/search?q=cache:ZvBhYdTOs-0J:belco.org/i...

--------------------------------------------------
Note added at 8 hrs (2007-09-15 21:27:03 GMT)
--------------------------------------------------

PS. Private banking is pretty much the opposite of corporate banking...
Selected response from:

Nicole Schnell
United States
Local time: 01:32
Grading comment
Thanks Nicole
4 KudoZ points were awarded for this answer

Advertisement


Summary of answers provided
4anonymous accountMichael Bailey
3access limited to authorized signatories
Nicole Schnell


Discussion entries: 2





  

Answers


12 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Namensgeschütztes Konto
anonymous account


Explanation:
this sounds like a "numbered account" i.e. one with an account number but no account holder name.

Konto-/Depotinhaber is often translated as "account/portfolio holder" - by this dint I would expect this to be an "anonymous account/portfolio - it sounds like it is connected to private banking. A portfolio would of course contain holdings in securities...

--------------------------------------------------
Note added at 23 mins (2007-09-15 12:57:33 GMT)
--------------------------------------------------

It may be that your customer prefers "securities account" for Depot (fyi Dietl/Lorenz has Depotkonto as security deposit account or safe custody account) it seems plausible to me that this is a synonym.

Michael Bailey
Austria
Local time: 10:32
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 24
Notes to answerer
Asker: Thanks. Yes, I have just reached the salutation 'Private Banking'. The reference text uses 'account/securities account'. Do you disagree with this?

Login to enter a peer comment (or grade)

8 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
access limited to authorized signatories


Explanation:
Example:

"Partnership Business Account Application
Belco Community Credit Union

[...]

Type of Organization (check one):
 Limited Partnership
 General Partnership

(1)Applicant and all Authorized Signatories on accounts of Applicant maintained at Credit Union understand that all accounts and services appliedfor may be subject to approval. Applicant and Authorized Signatories authorize the Credit Union to verify any information provided on thisapplication, to inquire of references and account relationships, to obtain business and consumer reports from credit reporting agencies on Applicant and Authorized Signatories, and to acquire information concerning performance under account relationships with third parties. Applicantand Authorized Signatories authorize any person, association, firm or corporation to furnish, on request of this Credit Union, information concerning our affairs. Each party who signs this document authorizes the Credit Union to accept a facsimile copy of this document and agrees that each party’s signature thereon shall have legal force and effect as that party’s original signature. Each signer agrees to accept any risk associated with Belco Community Credit Union’s acceptance of a facsimile signature.

[...]

(2)Specimens of the signatures of those authorized (“Authorized Signatories”) to make withdrawals from the account(s) and to act in conjunction therewith are indicated below,and Credit Union is authorized to act upon the request of Member bearing any of such signatures, including, but without limiting the generality of the foregoing, the pledging ofthe account(s) in whole or in part as security for any loan made by Credit Union to Member, ..."

This means that only those persons whose signature specimens are shown on a particular sample sheet are authorized to sign checks, make withdrawls, etc.

--------------------------------------------------
Note added at 8 hrs (2007-09-15 21:18:04 GMT)
--------------------------------------------------

http://72.14.253.104/search?q=cache:ZvBhYdTOs-0J:belco.org/i...

--------------------------------------------------
Note added at 8 hrs (2007-09-15 21:27:03 GMT)
--------------------------------------------------

PS. Private banking is pretty much the opposite of corporate banking...

Nicole Schnell
United States
Local time: 01:32
Native speaker of: Native in GermanGerman
PRO pts in category: 40
Grading comment
Thanks Nicole
Login to enter a peer comment (or grade)




Return to KudoZ list


Changes made by editors
Sep 15, 2007 - Changes made by Steffen Walter:
Term askedNamensgeschuetztes Konte » namensgeschütztes Konto


KudoZ™ translation help
The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.



See also:



Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search