Closing a Bank Account in an Emergency Situation

1	Step Receive reliable information of the imminent insolvency and/or closure of the bank where UNDP cash is held.	Responsible Party RR/Business Unit Head	Template/Guideline	Explanatory Notes
2	Step Seek the Treasurer’s authorization to close the UNDP bank account.	Responsible Party RR/Business Unit Head	Template/Guideline	Explanatory Notes
3	Step In emergencies, if unable to contact the Treasurer, withdraw balance(s) held in UNDP bank account(s) and deposit this amount to a new account opened with another bank.	Responsible Party RR/Business Unit Head	Template/Guideline	Explanatory Notes
4	Step Inform the Treasurer of closing of bank account.	Responsible Party RR/Business Unit Head	Template/Guideline	Explanatory Notes
5	Step If the Treasurer can be contacted, await their approval.	Responsible Party Business Unit Head	Template/Guideline	Explanatory Notes
6	Step Withdraw balances held in the UNDP account(s) with that bank and deposit these amounts to a new account.	Responsible Party RR/Business Unit Head	Template/Guideline	Explanatory Notes
7	Step Send the official letter to close the bank account.	Responsible Party Treasurer	Template/Guideline	Explanatory Notes