To open a bank account
Your group must be full status to open a bank account. No incipient group may have a bank account.
Consider whether you have sufficient cash and/or income to justify a bank account of your own. Service fees can be expensive and can add up quickly. Even after your group achieves full status, it may be advantageous to keep the funds in trust with another group until you have sufficient transactions to make the convenience worth the service charges.
Your group must be full status to open a bank account. No incipient group may have a bank account.
Consider whether you have sufficient cash and/or income to justify a bank account of your own. Service fees can be expensive and can add up quickly. Even after your group achieves full status, it may be advantageous to keep the funds in trust with another group until you have sufficient transactions to make the convenience worth the service charges.
- The account must be dual-signature required.
- The account may not be tied to a line of credit or any other debt instrument.
- The account may not be tied to Electronic Bill payment, Pay-pal or any other payment system that can be implemented without two signatures.
- If you obtain a bank card or internet access, it must be deposit-only or view only.
- All signatories should be paid members of the SCA. The signing authorities should include:
- Group exchequer
- Group seneschal
- Kingdom Exchequer
- Other group officer or member as agreed to by the group, or as chosen by group financial policy.
