Attention Troop Leaders! Follow these helpful hints for setting up your troop bank account:
For additional information, check out these Guidelines: Checking Account Guidelines
- Choosing a bank account:
o Select a bank with an account that has the lowest service fees.
o Your troop bank account will have a lot of deposit activity during the product sale months, so make sure to ask if there is an item or dollar limit charge for deposits.
o Other charges to question: maintenance fees, returned check fees, account closing fees, and overdraft fees.
o The bank is required to give you a list of possible fees for the type of bank account you choose. Make sure you keep this document and give a copy to each signer on the account.
- Setting up the bank account:
o Take an extra copy of the troop bank account agreement when you set up your troop bank account.
o Your bank account must have three signers, per the Troop Bank Account agreement.
o Give the extra copy to the bank officer that sets up the troop bank account and ask for their business card.
o Point out the refusal of overdraft protection at the end of the form to the officer.
o Follow up the next day by emailing the officer and confirming that the bank has a copy of the troop banking agreement on file. Copy the email to your Service Unit Manager or Service Unit Treasurer.
For more information, contact the Council at 800-475-2621.