I'll second Anita. In my opinion, it doesn't really matter if your bank enforces the 2 signature rule. What matters is if YOU enforce it. The whole point of a second signature is to ensure that at least two authorized PTO officers know about every check that is written against the PTO account. Your treasurer has to be firm in this rule, even if someone needs a check "right now". Your published standing rule should be that every check requires two signatures, and your members should be taught to respect that rule. If people simply think the bank requires it, they'll respect the rule, so don't tell them any different.

One way to oversee this rule is to have the monthly bank statement sent to the president or another officer, instead of to the treasurer. The president should look over the statement and the cancelled checks (do get them back from the bank), and verify that all the checks were written and signed properly. Initial the statement and then pass it along to the treasurer to be reconciled. Your annual audit should also spot any lapses in the 2-signature rule, but that comes late in the process.

Few banks will accept the liability of opening an account that requires two signatures, because there is virtually no way to check this when checks are presented through the clearance process (deposited with other banks). The fine print of your deposit account agreement with your financial institution probably waives their liability to you if they cash a two signature check with only one signature. But, it still might make sense for your organization to have two signatures on the check - it makes it easier to identify any unauthorized checks that have been presented for payment against your account.

You've got to police your bank accounts, there is no bank or governmental agency that will do this for you.

I agree. All that matters is what your financial institution will do. We've dealt with two or three banks during my PTO years. None would enforce a two-signature policy.

It was strictly an internal policy that we required AND one that the auditor looked for in his review each summer.

When my MS PTO looked for a new bank this year, the Treasurer reported that the one that was a best fit wouldn't even ALLOW two signature checks. (Sounds squirrely to me, but he seems to have checked it out thoroughly.)

So for that PTO we changed to not having the treasurer as a signer on the account. He mainatins the checkbook and prepares the check for one of the president's signatures. So we still have two officers involved in the creation of each check.

I would think it only matters to your PTO if two signatures are required. Our PTO only has one signature required at this time, that may change soon. I'm curious do your checks say two signatures required to cash the check, to prevent one signature checks from being cashed?

The most important answer is the one you are getting from the credit union where the account is held. You can call as many other banks as you want, but whatever they tell you isn't going to shed any light on your own bank's practices. I can't imagine any type of Federal agency that would monitor this; it's highly unlikely that very many humans even see the checks once they are written these days--everything is digital now.

I think that most banks will tell you that if someone comes in to cash a check you wrote at the branch where you opened your account, the people at that branch *might* notice if 2 sigs are required and are not there. And some smaller banks might check at another branch. But other than that, I seriously doubt anyone monitors the two signature requirement anywhere.

We have moved our account for the PTO from a bank to a credit union and all is going great. our checks require 2 signatures. other than the PTO who monitors whether there are 2 signatures or not. can someone direct me to find out. Everywhere I have looked it has mentioned that not even the federal gov. monitors this. I work at our credit union where the account is held and others on the board feel that there is a way (federally) to monitor this. I asked my co-workers and call other financial institutions and they all say the same we monitor it and once the check is written it is out of our hands.
Where can we go to make sure that this is the right info.
Thanks lady stag