Discuss questions around local unit policies for budgeting, reconciling, etc. This forum should not contain specific financial or membership information.
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Recently our bank we use to deposit church tithes and fast offerings has closed and we are currently unable to make the deposit of those funds. Bishop is currently hanging on to those funds, but not sure what to do and what is church protocol with such a situation. Not sure it this is a temporary issue or not. The bank is called The Bank of the West. Any guidance would be appreciated. Chris
Contact support ASAP.
Along with this excellent advice, you might be able to find another branch of your bank open in a nearby community. While inconvenient, it would allow the unit to deposit the tithing and offerings in a timely manner. Transmitting the donation batch without a corresponding deposit may raise a warning flag at Church Headquarters to be investigated.russellhltn wrote:Contact support ASAP.
Failure to process the donations in a timely manner, especially at this time of year, could negatively impact the tax status of members unless it is resolved soon. Keep in mind that 2020 donations must be processed as 2020 donations, even if they are actually deposited in 2021. The requirement is that if they are mailed and post-marked in 2020 or handed to a bishopric member in 2020, they are 2020 donations.
I checked their web site and it states the Bank of the West is still in business and viable (even if your branch has closed).
When I was the ward finance clerk, I requested a bank change for handling deposits due to a branch closure. I can't remember all the details, but I do remember it was a pretty painless process.
So we can better help you, please edit your Profile to include your general location.
In our case it took about 3 weeks to complete. It's possible they can put a rush on it but there may have to be some temporary solution such as those indicated by others.Mikerowaved wrote:When I was the ward finance clerk, I requested a bank change for handling deposits due to a branch closure. I can't remember all the details, but I do remember it was a pretty painless process.