Changing Bank Drop Off

Just found out that at least two other units in our building are using a deposit drop at a bank right by the church building. Our unit is older and we have always used a bank a couple miles away. What is the process for changing to the closer one? I know our account lives in Salt Lake City and will not change but suspect Salt Lake still wants to know where our money is dropped off locally.

wrigjef wrote:Just found out that at least two other units in our building are using a deposit drop at a bank right by the church building. Our unit is older and we have always used a bank a couple miles away. What is the process for changing to the closer one? I know our account lives in Salt Lake City and will not change but suspect Salt Lake still wants to know where our money is dropped off locally.

You're certainly right the Church Headquarters needs to know where the money is deposited. You also need to have the right deposit slips and stamp. So you have to call Clerk Support to initiate the change.

They will send you what you need and tell you when you should start making deposits at the new bank. Make sure you follow those instructions carefully so that the Church will know where to find the funds you deposit.

wrigjef wrote:Just found out that at least two other units in our building are using a deposit drop at a bank right by the church building. Our unit is older and we have always used a bank a couple miles away. What is the process for changing to the closer one? I know our account lives in Salt Lake City and will not change but suspect Salt Lake still wants to know where our money is dropped off locally.

If they are different banks, you will have to change stamps and deposit slips. The Finance Department will help you.

It would not hurt to call Finance to make sure, but here, if it is the same bank, we can make the deposit at any branch with a night deposit slot. I suspect it will be the same for you.

We actually do this, depending on which member of the bishopric and which clerk are making the deposit. One pair lives one way, and another pair lives in the totally opposite direction.

It was very thoughtful of the bank to put a branch office in each direction, about five miles away. [grin]

I went through this very process shortly after being called as a finance clerk. Alan laid out the procedure I used. Contact CHQ and they will get the ball rolling. I remember the very last step (once everything was changed over) was to destroy the old rubber stamp and deposit book.

I am interested in changing our drop off location as well. Does anyone know if there is a list of approved banks online somewhere? If seems a bit crazy to add 30 minutes of extra driving to the end of an already long day in most cases. Especially when between the ward neighborhood and the chapel there are about 5 or 6 banks.

twigin wrote:I am interested in changing our drop off location as well. Does anyone know if there is a list of approved banks online somewhere?

There's no list online, but you can certainly call the Global Service Center to ask about options.

Just guessing, but if you're wanting to change it to a different branch of the same bank, that should be do-able. A different bank altogether ... probably a little(?) harder.

russellhltn wrote:Just guessing, but if you're wanting to change it to a different branch of the same bank, that should be do-able. A different bank altogether ... probably a little(?) harder.

Changing to a different branch is not just "do-able" -- you can just go ahead and do it. There's nothing about the deposit procedures that is tied to a particular branch.

So we must be talking here about a different bank altogether. And that does require coordination with the Global Service Center, since you need new endorsement stamps and deposit tickets and the Finance Department has to know what bank the funds will be deposited in.

aebrown wrote:So we must be talking here about a different bank altogether. And that does require coordination with the Global Service Center, since you need new endorsement stamps and deposit tickets and the Finance Department has to know what bank the funds will be deposited in.

That's assuming there's a business arrangement with that bank. There may be more to it then that, but it's worth a call to GSC.

I recommend calling the GSC, especially if you do not live along the Wasatch front or similar areas with a heavy Church population. A couple of years ago my ward here in Texas moved into a new meetinghouse and there was a different branch of the same bank we had been using nearby. I contacted the GSC to see what needed to be done to change branches. We were provided with instructions and a letter to take to the new branch. This was necessary because the new branch had not dealt with Church deposit concentration accounts previously and needed some specific information we at the local level could not give them. They also needed a letter of authorization from the Church to issue keys for the night depost box. I was told the procedures and the letter were necessary regardless of which branch or bank we were going to use.

jdlessley wrote:I recommend calling the GSC, especially if you do not live along the Wasatch front or similar areas with a heavy Church population.

The Church uses several different banks for deposit concentration. In our particular city, there is only one choice (although there are three different bank branches from which to choose). In one small city in our stake, there was not a bank to use. So the branch uses a different procedure for the deposit as instructed by Church headquarters.