In rare instances, there may be a need to open an outside bank account, other than a State Treasury bank account. All funds kept in an outside bank account are collateralized under WV State Code §12-1-4.
Outside bank accounts for WVU affiliated organizations (e.g. student organizations, etc.) are permissible with the following stipulations:
- Non-state funds are involved
- WVU’s Federal Employer Identification Number (FEIN) cannot be used on the bank account. If you need assistance in obtaining a FEIN for banking purposes, go to WVU Tax Services’ website at https://taxservices.wvu.edu/. Go to Employees & Students section and select Student Organizations (the last one in the list of options) and you will find instructions on how to obtain a FEIN and other valuable information.
TO REQUEST TO CLOSE AN OUTSIDE BANK ACCOUNT – Contact WVU Treasury Operations at WVUTreasury@mail.wvu.edu.