After you have read these steps in detail, please contact the Office of the Treasurer, Cash Management and Operations team with any questions.
Before proposing that an international bank account be opened, a school/department/center should:
- Read the University Bank Account Policy and use the Commonly Required Bank Account Docs to gather documentation that will be required by the Office of the Treasurer
- Send an emailed proposal to the Office of the Treasurer attaching a completed Bank Account Request Form. Within the body of the email, please include the following information:
- If a bank is not one of the university’s strategic banking partners, collect and include information described on the New Banking Relationship Request Checklist
- The request should be sent by the DAF Administrator or with an email granting her/his approval.
- The ultimate decision to open a bank account is at the discretion of the University’s Trustees, EVP for Finance, or Treasurer. The Office of the Treasurer will work with the school/department/center to collect additional documentation as needed and, if approved, will open the account
Once the complete request and documentation are received from the department/school/center, some of the responsibilities of the Office of the Treasurer include:
- Investigating bank presence and gather initial country requirements for new or re-purposed bank account(s) (in coordination with school/department/center).
- Facilitate a conference call (once legal entity structure and residency is known) with global bank relationship/local bank partners and NY/local CU employees to discuss and agree documentation requirements/timing/expectations.
- Coordinate the required bank account documentation (driven by the legal entity structure by country and in accordance with CU policies) and oversee the opening of the account(s).
- Send a test transaction to the new account(s) to ensure operational effectiveness.