After you have read these steps in detail, please contact the Office of the Treasurer, Cash Management and Operations team (firstname.lastname@example.org) 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.