Opening a Troop Bank Account A troop bank account allows troops to properly manage and account for their deposits and expenses. Bank accounts are set up under the council’s federal tax ID and established through the council’s central process with Truist. To offset any charges associated with opening a new account, the council deposits $50 into all new troop bank accounts when they are opened. All troops are required to have a bank account. If you’re taking over an existing troop, you may inherit an account, but you’ll still need to change the signers.
How to Open a New Troop Bank Account • Confirm that all individuals and signers responsible for handling troop/group funds are currently registered members of GSUSA with an approved background check.* • Complete the online application form to request an account (located at www.gsnccp.org/troop-banking). You’ll be asked to provide contact information for each signer. Each troop is required to have at least two unrelated signers and may have a maximum of three. Debit cards can also be requested at this time. The Finance Department will review the application and mail a signature card to the signers for them to sign and return to the council using a pre-paid return envelope. • Once the completed signature card has been returned to the council, the Finance Department will work with Truist to open the bank account and order any requested debit cards. All signers will be notified by email when the bank account has been opened. The email will include instructions for online banking access. NOTE: Opening a new bank account takes approximately 10 business days from start to finish, pending how quickly signature cards are signed and returned to the council. How to Change Signers on a Troop Bank Account • Confirm that all individuals responsible for handling troop/group funds are currently registered members of GSUSA with an approved background check.* • Complete the online application form to change signers on an existing troop account (located at www.gsnccp.org/troop-banking). You’ll be asked to provide contact information for each signer. Each troop is required to have at least two unrelated signers and may have a maximum of three. Debit cards and online banking access can also be requested at this time. • The finance department will review the application and mail a signature card to the signers for them to sign and return to council using a pre-paid return envelope. • Once the completed signature card has been returned to the council, the Finance Department will work with Truist to update the signers on the bank account. The following changes will be made, as needed: • update the bank statement mailing address, order or cancel debit cards, and update/change the online banking password. All signers will be notified by email when the changes have been made. * Limitations on money handling may be placed on individuals whose background check reveals theft, fraud, forgery, or other crimes. For more information, refer to Troop Banking Guidelines (TP450) available on the website at www.nccoastalpines.org or by request at troopbanking@nccoastalpines.org.
Troop Banking Tutorial Videos are offered via gsLearn!
* Limitations on money handling may be placed on individuals whose background check reveals theft, fraud, forgery, or other crimes.
Lead On! - Discover!
13
