Online access to HOA bank accounts

Is it typical for an HOA treasurer to have online access to the HOA's bank accounts? Should be there be more than one board member with online access? Any concerns about security? In our HOA, the agent manages the operating and reserve accounts but the Treasurer has read only access plus the ability to move funds from those two accounts over to bank accounts not managed by the agent. These are laddered CD accounts. The month end statements for those accounts are report to the agent for inclusion into our monthly reports. Our rules don't cover HOA access to accounts.

Let me add that in my past experience as a treasurer and president of a 501(c)3 organization The board president and treasurer are typically the authorized agent along with your designated agent, i.e. property manager that has access to your banking financials. Whether all three can have online access is up to the bank to provision online access with different user names and passwords to the accounts.

To clarify what a bank lockbox is. If it is for the management company, each MC is assigned a number, such as 1234, and then each association is assigned their own number, 01, 02, etc. Each night we get an electronic file with all 50 of our association's deposits. We get a PDF copy to verify that the information provided by the owner is correct and then the file is uploaded into our software. We never touch a check. It's the greatest thing since Al Gore created the internet.