NGO Management - Indian NGO Funding Training Agencies Database

NGO Portal is a comprehensive knowledgebase of NGO’s and Non-Profits from India and around the world.
It contains a wealth of information regarding NGOs, NGO management, finalcial and legal aspects.
Contact  |  Sitemap
NGO Portal is a comprehensive knowledgebase of NGO’s and Non-Profits from India and around the world.
It contains a wealth of information regarding NGOs, NGO management, finalcial and legal aspects.ngo database, ngo funding agencies, ngo india, indian ngos, international ngos, ngo training institutes
, financial management related ngos, legal aspects related ngos, fcra related ngo, income tax related ngo, registration related ngo,
provident fund related ngo, grants management in ngo, hr related ngo, developement jobs in ngo, consultants in ngo, admin related ngo,
vehicle management in ngo, travel related ngo, contracts in ngo, ngo news

Financial Management

How to choose a Bank

How to chose a Bank:  You may have a number of Banks operating in your area.  At times we may find it difficult to chose a particular bank.  Some of the points that one needs to look at before opening a Bank Account are as follows:

   When you want to open an account with a particular bank, check whether the bank has branches nearer to your project area.

  - Check the capacity of the bank – particularly some smaller branches may have limitations of drawing cash in a particular day.

  - Check with the bank what are the facilities that they are going to offer your organization. e.g. some banks give facility to make demand drafts without any charges.

  - Check if they offer overdraft facility

- Check if they have loan facility

-If your project has large transactions, some banks consider you as a valued customer and give priority when you do some transactions.

- For some reason or other when a cheque issued by your organization comes to your bank for clearance and if they found the cheque is invalid for various reasons, before they bounce the cheque, they will contact you.

-At times you need to draw cash urgently and you found the bank hours are over, as a valued customer the bank may allow you to draw the cash if their books are not closed for that day.

- In small branches and particularly in rural areas the banks do not give cheque books as many as you require because of shortage or other reasons.  This also you need to ensure that your organization gets sufficient cheque book facility.

- Also see whether banks have electronically money transfer facility.

 -Also find out whether that particular branch has facility to receive funds directly from outside your country. 

You should also get the Bank’s Swift Code, Intermediary Bank Account number etc. which you need to send to your donors for transferring funds into your account.

 - After opening the account after some time, the concerned staff with whom your organization has good rapport may have been transferred to other places or left the job.  In such situation,  the concerned staff before they leave that particular branch should introduce you  to the new member and explains to them about your organization and the facilities that your organization is supposed to get.   

 

Read More.. cheque deposits.. availabiity of funds...

 

 


~ ngoportal

« Back

Advertise with Us








Home |  About Us |  NGO Database |  Funding Agencies |  Financial/Legal |  HR & Admin |  Grants Management

Some information contained in this website has been collected from various sources including other websites on the internet. While all the information is deemed to be correct, NGOPortal.org has not verified them and does not endorse the accuracy of the information published on this website. Readers are strongly advised to verify them on their own and use the information at their own risk.

© Copyright 2019 NGO Portal. All Rights Reserved. Website Developed by Webtenet