I'm the new 2007-2008 treasurer and I would like to change our account to another banking institution. I am very familiar with the one I want to change to and also use this Bank personally. I have researched both Banks side by side and prefer my own Bank still. My Bank offers an Interest checking and more free transactions as well as a business debit card. Also, I prefer the on-line site and banking options of my personal Bank over the current one being used by the PTO of our school. Obviously, convenience is a personal preference to use only one bank for my personal business and PTO business. The main difference is my Bank offers small business and non-profit vendor discounts. I feel this can be very beneficial in many ways. I have done all the research and printed out the information of both Banks. Now, how do I present this and to whom? The PTO President or the Principal of the school or both? I actually commented on the bank and prefering my own bank and was met with comments of "well, so-and-so, works at ____ bank". I received that as a negetive. I'm am not known to these other members and was nominated by myself which prompted the President to nominate me. I only got it because no one else wanted it and the previous treasurer did not want to do it again. I truly feel my decision to change banks is in our best interest as well as making my job more convenient. HELP!

[Mom4ever]

Stand your ground!! It needs to be presented to the pto committee during a scheduled meeting. Bring your findings to the table and state your case. Explain not only the convenience but the benefits it brings. We also changed banks a few years bank mostly due to benefits/debit card use. Three cards were issued; pres., vice pres, treasurer. Much easier to keep track of purchases. We also found it cut down on check writing and reimbursements. Feel free to add that to your list. Good luck.

I'd like to know the name of the better bank...our group soon to set up an account and the bank you mention with not for profit discounts and business debit as well as interest checking are what we are looking for...Thanks!

[LaAng3]

Hello New2Game

The Bank of my choice is BankofAmerica. I'm already a customer and compared the current Bank the PTO is using to mine and mine is the better one for our needs.

[OneandOnly]

You need to speak to the President about the subject and present them with the information. Then the item must be placed on the agenda for the next meeting and the subject formally presented and discussed by the members. Although this is not something that needs a formal vote, I think that having the members included in the discussion would prevent anyone from an accusation that things were going on without knowledge of the membership.

Being in that position, you really need to be open about what you do. I would not, however, bring up the convenience it will bring you. You will not be in that position forever and it needs to be in the best interest for the PTO no matter who is Treasurer.

[njmom]

We are in NJ and chose to switch to Commerce Bank for their convenience. Although I don't use them for my personal banking, their hours (7 days per week) and many locations made them a logical choice. I agree with OneandOnly that you need to think about the Treasurers that will follow you and think about what is best for your PTO. Look at all your local options before making a recommendation.

[Critter]

There are many very valid reasons for changing banks, and most PTO's would be well advised to review their banking relationship from time to time. If your PTO is paying any fees at all, you need to search for a new bank. However, I would never use the phrase "my bank" when presenting a new option to the Exec Board. While it may be true that you know the features of your bank better because you are already a customer, it sound disingenuous to rely on that as a key reason for switching. I personally have no problem changing banks for the treasurer's convenience, all other things being equal, but only if the branch is located within a reasonable proximity to the school. The treasurer has lots of interaction with the branch so it should be convenient for her as long as that bank is as good a deal as any other option. Selecting a bank because so-and-so works there is about the worst reason of all.

Are the features of the new bank really important to the PTO? Do you really need online access? A debit card? An ATM card? The most important features I look for is fee-free checking. Interest woudl be nice, but not if it means we pay a monthly service fee or any other fee. It sounds like you've done your homework and have the PTO's best interest at heart. Just check the personal banking relationship at the door when presenting your recommendation the rest of the board.

[LaAng3]

Thanks to all who replied!
I presented my desire to change banks to the President who told me we had to open it for discussion to the others, which we did. Prior to our meeting, I downloaded info from both banks and also made a side-by-side outline for additional benefits to us (PTO) for the change. Neither Bank charges monthly fees for chosen accounts. We all agreed to the change. We also liked the idea of debit cards for each Officer with a limit, which we chose ours to be of $50. The bank then sets this limit on each card so Officers DO NOT have access to total PTO Funds. We are doing the 2-person signature on debit receipts to validate the use of each debit. This way we could purchase items and not have to pay out of our own pocket and then be re-reimbursed by check. I made an outline of all the benefits for this as well, we had many reasons for wanting debit cards for each officer. I did mention of the convenience for myself lastly, and by coincidence, 3 of 4 Officers bank @ the new proposed Bank. BankofAmerica is the majority used Bank in our area.