Reference this Knowledge Guide when selecting a bank and opening an account.
Student organizations are required to have bank accounts in order to deposit Appropriations checks. These bank accounts must be an organizational account and not a personal account. In this guide, we outline the general requirements that most banks have for opening an account and how to choose a bank.
What documents are needed to open a bank account?
Many banks require the same documentation and identification for student organizations to open bank accounts. Please note that most banks require the same basic documentation and identification, but this could vary between banks. We recommend contacting your potential bank directly to determine what you need to open an account.
Bank Verification Letter | Student organizations will need to provide proof that they are a registered student organization at NC State, this is done through a Bank Verification Letter. Student organization leaders can request a Bank Verification Letter through GetInvolved. | |
Tax ID for Organization | You will be required to provide a valid tax ID. We recommend that organizations apply for an Employer Identification Number (EIN) from the IRS. It is not recommended that students use a social security number. | |
Two (2) Forms of Photo Identification for Each Signer | Account signers will need two (2) forms of photo ID at most banks. Examples include a valid US driver’s license, US or foreign passport, US Military ID, Canadian driver license, US Alien immigration passport, or Matrícula consular card. PNC Bank accepts your NC State Wolfpack OneCard with a clear photo as a valid form of photo ID. | |
Individual Signer Information | Students who want to be on the account will have to provide their present address, date of birth, phone number, email address, and social security number. Additionally, all signers will need to be present. |
If your student organization has 501(c)3 non-profit status, you will need to provide a documentation letter from the NC Secretary of State.
Please note: Student organizations do not automatically gain 501(c)3 non-profit status; organizations will have to apply and pay a fee to gain 501(c)3 non-profit status.
Choosing a Bank
While Student Government does not recommend a specific bank for student organizations, many organizations choose to use PNC Bank for their banking needs. PNC Bank operates a branch on campus in Talley Student Union and has multiple ATMs located across campus. Additionally, PNC Bank employees are familiar with setting up accounts for student organizations. Student organizations are free to choose any bank they wish. Below, we outline many common banks that student organizations use and their benefits.
PNC Bank offers free accounts for registered student organizations. There is no minimum balance needed, and no minimum amount to open an account (accounts cannot have a negative balance though). Additionally, there are no account fees if the Bank Verification Letter from Student Leadership & Engagement is provided. PNC Bank makes the transition between organization leaders very smooth – organizations must provide a new Bank Verification Letter or meeting minutes detailing new election/appointment of new leaders.
PNC Bank also offers debit cards at no extra charge to account holders. Additionally, single checks can be printed at the Talley Student Union branch for $1.50. Full check books can be ordered. Checks can be deposited at any PNC branch, PNC ATMs, or via the PNC app.
Free online banking is available through PNC Bank. Please note: address must be provided for online banking. We recommend student organizations use the address of the Student Involvement Center.
Student organization leaders can make appointments at the Talley Student Union branch to open an organizational bank account. The entire process typically takes about an hour.
PNC Bank also offers financial literacy and education programs for student organizations that have PNC Bank accounts.
Talley Student Union Branch
2610 Cates Avenue
Talley Student Union
Raleigh, NC 27606
Contact Rhea Gonsalves
Assistant Branch Manager
rhea.gonsalves@pnc.com
Questions?
Please contact Student Body Treasurer Harrison Andrews at sbt@ncsu.edu for any questions or concerns.
Please note: Student Government legally cannot provide assistance with applying for an Employer Identification Number (EIN).