Open, Update, or Close a University Bank Account

The University opens bank accounts where needed to support operations. Only designated Harvard employees within the Office of Treasury Management (OTM) are authorized to select banking partners for, approve, open, make changes to, and close all bank accounts controlled by Harvard University entities. Any other use of the Harvard name and/or Harvard University’s tax identification number to open a bank account is strictly prohibited. Student organizations that operate as separate entities with their own tax identification numbers are NOT permitted to open bank accounts under Harvard’s tax identification number.

Managing University bank accounts is a partnership between the local unit and the Cash Management Office (CMO). Steps required of each respective office can be found in the detailed procedures document for opening, maintaining, reconciling or closing a bank account. 

See also: Bank Accounts