How to Add an Additional Depository Account

Objective: This guide explains how to add additional depository accounts for your organization. By following these steps, you can manage funds that need to be deposited into multiple bank accounts.

💡 Why Add Additional Depository Accounts?

Most organizations deposit all giving funds into one bank account and allocate them using fund designations. However, some accounting processes may require funds to be deposited into multiple bank accounts.

Steps to Add an Additional Depository Account

1. Access Account Settings:
   • Log in to your manager portal.
   • Click the Gear Icon (⚙️) in the top-right corner to access Settings.
   • From the Settings Card, navigate to the Account Services section.
   • Here, you can update your legal name, address, and depository bank accounts or close your account if necessary.
2. Select Add an Additional Bank Account:
   • Click Add an Additional Bank Account. A pop-up will appear.
     
3. Complete the Bank Account Change Form:
   • Indicate which fund or campus the bank account should be tied to.
   • Attach one of the required supporting documents listed below.
4. Submit Supporting Documentation:
   • Upload one of the following:
     • Voided Check: Must be pre-printed with your organization’s name and address.
     • Bank Letter: A formal letter from your bank that includes your organization’s name, routing number, and account number.
5. Finalize and Submit:
   • Review all information for accuracy.
   • Submit the form electronically.

Processing Timeline:

After all required information is received, your additional bank account will be processed within 3–5 business days.

Important Notes:

• Fees: There is a $5 monthly fee for each additional depository account, which will appear on your monthly invoice.
• New Sub Funds: Sub funds under a parent fund will not automatically inherit the parent fund’s assigned alternate account. You must submit the Add Alternate Bank Account Form for each new fund you want deposited into a different account.
• Privacy and Security:
• For your protection, do not send bank account or card information via email or chat unless discussed and confirmed over the phone.
• If someone asks you to send this information unexpectedly, verify their request through a separate email to ensure authenticity.

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Updated May 07, 2025 04:10