External Bank Accounts Procedures

For Faculty and Staff

View the most up-to-date procedures on the External Bank Accounts Procedure 3.14 (PDF).

What is an external bank account?

External bank accounts include checking, savings or investment accounts using Ä¢¹½ÊÓƵ's name or taxpayer ID with any financial institution, including:

  • banks
  • credit unions
  • savings and loans
  • or investment firms.

Prior authorization is required

Before opening an external bank account, your department, program or organization must receive prior written approval from the Vice President of Finance and Administration.