Opening a Bank Account in a Regular Operating Environment

1	Steps Request Treasurer to open a bank account.	Responsible Party Resident Representative	Template/Guideline	Explanatory Notes
2	Steps Review bank account opening request, assessing the need for the bank account.	Responsible Party Treasurer	Template/Guideline	Explanatory Notes
3	Steps Approve/decline bank account opening request.	Responsible Party Treasurer	Template/Guideline	Explanatory Notes
4	Steps Arrange for preparation of the official letter to open the bank account if the request is approved.	Responsible Party Treasurer	Template/Guideline	Explanatory Notes Normally, the official title of the account will be “UNDP Representative (currency designation) Account” for Country Office bank accounts. The titles for Headquarters accounts will vary depending on the purpose of the account.
5	Steps Send Official Letter to open bank account to bank.	Responsible Party Treasurer	Template/Guideline	Explanatory Notes
6	Steps Provide UNDP an account number and advise that the bank account is operational. This information must be documented in writing on the bank’s letterhead and provided to Treasury.	Responsible Party Bank,	Template/Guideline	Explanatory Notes
7	Steps Create the bank account in Quantum and communicate the Quantum details to CO.	Responsible Party Treasurer	Template/Guideline	Explanatory Notes