IEEE-SA SASB Ops Manual 5.3.7
IEEE Web Account
L50-S
IEEE-Standards Concentration Banking FAQs
IEEE Concentration Banking

IEEE-SA Concentration Banking Program

The IEEE-SA Standards Board is requiring that all IEEE Standards development committees that have bank accounts shall use the IEEE Concentration Banking Program as their only bank account. The Program provides an interest bearing business checking account, through Wachovia, enabling you to manage your banking activity, and pays a very competitive interest rate. The benefits of this program are no bank fees, service charges or required minimum balance. You have on-line reporting - reports available in PDF format via the web; front and back paid check images, plus more.

To set up a new Concentration Banking (CB) account, please contact Lyn Hunt via email: l.hunt@ieee.org or telephone: 732-562-3805, regarding the below information and to request the necessary forms:

• Program only available to groups in the US via Wachovia Banks.
• Must have two current IEEE Members (Member Grade or higher) in good standing on the account.
• Signers need to complete the Add signer and Contact Info forms, and mail originals back to Lyn Hunt to initiate the process. Wachovia will not open a CB account without original signatures.
• It will take 12-16 business days to receive your CB supplies. You can then make the initial deposit to Wachovia Bank and begin to write checks on your account.
• Treasurers and Chairs will be able to access their CB Statements over the web at http://webapps1.ieee.org/CBRS/CBRS.
• You must have an IEEE Web Account ID and password to log on to the website. If you do not, register at http://www.ieee.org/web/accounts. Follow the instructions using your member id number and your pin number.

To transfer funds from a non-CB account to a CB account:

• Open new CB account as noted above; make sure you select who receives checking account supplies.
• Deposit money from old account into new account before December 31, 2008. Please note, you must use the CB deposit slips.

To close out old non-CB account:

• Close out the account, and mail the final bank statement to Lyn Hunt no later then December 31, 2008.

For more details about the program, please visit the IEEE CB Program website.

Reminder to contact Lyn Hunt to set up your CB account. If you go directly to Treasury, it will cause a delay in processing your application. The deadline to open new CB accounts and close out non-CB accounts is December 31, 2008.