Opening a Bank Account in a Regular Operating Environment

1	Step Request Treasurer to open a bank account.	Responsible Party Resident Representative	Template/Guideline	Explanatory Notes
2	Step Review bank account opening request, assessing the need for the bank account.	Responsible Party Treasurer	Template/Guideline	Explanatory Notes
3	Step Approve/decline bank account opening request.	Responsible Party Treasurer	Template/Guideline	Explanatory Notes
4	Step 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	Step Send Official Letter to open bank account to bank.	Responsible Party Treasurer	Template/Guideline	Explanatory Notes
6	Step 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	Step Create the bank account in Quantum and communicate the Quantum details to CO.	Responsible Party Treasurer	Template/Guideline	Explanatory Notes