Last time we changed banks, the bank automatically gave us an ATM card. As treasurer, I chose to cut it up. I am not comfortable with our funds being that vulnerable, no matter how honest and well-intentioned people are.

We have a strict 2-signer policy on all checks and no one is allowed to sign a check to themselves so we have 3 authorized signers: prez, trez, VP.

Recently, one of our committees asked for a $100 cash advance to allow them to purchase items on the spot, whenever they found a great price. In this case, the buyer from the committee didn't have the funds in her personal account to allow her to buy and then get reimbursed later. The committee chair thought one of the new bank generic pre-loaded "credit" cards would be the most secure. But we found out the bank would charge us $3 or more in fees, and the card had no security on it anyway. We decided it was equally risky to hand over $100 and but at least that didn't cost us any fees. We insisted on receipts to cover the expense. I'm treasurer and I wasn't real keen on the approach, but figured our exposure was max'd at $100. I woudln't rush to give out a cash advance again, but at least it limits your risk compared to a debit card or atm card which could allow unauthorized access to ALL your money!

We chose not to have the debit card for any of our officers. Everyone has to submit receipts and if it is a large amount, we will advance a check (for most of the money) pending receipts. We also decided not to have online access for the treasurer (me) to avoid any issues with transferring $$ without anyone else being aware.

The biggest issue is that "we" are all fiscally responsible but don't know who will be following in a few years. Our board decided to put certain controls in place (and follow them) so that things are "set in stone" for the future.

Thank you all very much for the response.

We had a bank card and quickly dispensed of it. May just have been the communication between the pres and the treasurer at that time but I like having any disbursements from our account be a very deliberate action that involves more than one person. I don't like making anything too easy when it comes to access to the money. That means for me too and I tend to not keep track. Having the card is good if it works for you but I'm for a more stringent approach since "we" know we're honest about things (as I'm sure folks here are) but in 5 years it'll be the procedures that run the organization and not our personality.
d

We have a debit card attached to our account as well. The way we do it is the President is the one whose name is on the card and they hold the card in their possession. This way the treasurer gets the monthly statements and can see any purchases the president has made and the president also must submit receipts for anything purchased on the card.

You are right to be leery of the treasurer holding this card!

For our school both me(pres) and the treasurer have signing authorization for checks. Our treasurer takes care of the checkbook and such. I do have a bank card though. There has been many occasion where it just has been easier for me to purchase things needed for events, meetings, etc. That way I don't have to ask for the check book or be wait to be reimbursed. I think the bankcard is easier to keep track of in a lot of cases than the checks except for large purchases.

All purchases I make she is aware of and I have to submit a copy of my receipts.

I would make sure that you have two names on the account and all precautions are being met.

I do have to say though I use the card on a minimal basis and its only for budgeted items.

Cindy