Banks stopped opening accounts requiring two signatures!!!

by Nichole Keel

We have been trying to open a bank account for our small church, and we are running into the issue of banks refusing to open or guarantee an account that requires two signatures on checks!!!!

I spoke to these banks, and they all say it is either too much liability for the bank or it is impossible to enforce on their end.

How do you feel about changing the church resolution to just one signature on checks? I know for me it makes me quite uneasy!!!


Comments for Banks stopped opening accounts requiring two signatures!!!

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May 30, 2013
Ways around two sign. on checks
by: Anonymous in NC

Have a person who authorizes checks and a requirement for their signature coming before all checks being approved. Then one person to sign the check. Auditors would confirm that all checks and amounts approved are the same as what was written and paid out.

Jun 04, 2013
We only have one person sign checks here is out policy
by: Sandi

*** No checks will be written without a complete, and approved by council, disbursement form ***
***No taxes will be reimbursed/ paid***
i.Normal Administrative Pre approved Invoices (to be paid upon receipt by Treasurer): If no issues; the form is reviewed by finance committee and approved by council, completed forms are given to bookkeeper for input into QuickBooks and filed.
ii.Kitchen reimbursements(used for individuals only):
1.The Treasurer may write out checks up to $25.00 a month for authorized persons purchasing kitchen items (disbursement forms and supporting documents are still required).
a.verify receipts to ensure taxes are not paid and/or are not reimbursed to individuals.
b.Reviewed and approved by Finance Committee.
2.If monthly amount is over $25.00
a.Ensure council is aware of the request.
b.The Council approves purchase and amount.
c.If approved: give to Treasurer and for payment.

i.REIMBURSEMENT ACCOUNTS: These purchases are for use in the normal day to day operation of Church (kitchen supplies, postage, envelopes, etc.) up to the budgeted amount approved by council.
1.Reviewed by finance committee and approved by council
2.Completed disbursement forms are given to bookkeeper for input into QuickBooks and filed.
3.Requests for purchases that are pre-approved by council will have the disbursement form filled out and placed in pending file.
4.When purchase has been made, original receipts/invoices will be attached to form prior to payment being made
i.Approved forms received from Finance Committee/Council will be paid in a timely manner; completed forms are given to bookkeeper for input into QuickBooks and filed.
d.TRAVEL: See Travel policy.
e.BENEVOLENCE: See Benevolence policy

Nov 08, 2013
2 Signatures
by: Anonymous

I know I'm late posting this but the way we get around the bank is to have our checks printed with two lines for signatures and the check cannot be mailed without two signatures on it. The bank doesn't care as long as there is one authorized signer.

Sep 07, 2014
IRS form 504 .
by: Anonymous

Our pastor's Aide President was told that we must submit IRS form 504 in addition to our 501 c3 in order to open a saving account for our pastor.we cannot find this form.

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