Association Bank Account Owner
Once your association is active on TOTEM, you will be able to accept memberships and donations, and the proceeds of these transactions will be automatically deposited into your connected bank account.
The leader who connected the bank account initially is the Bank Account Owner and the only user with authorization to:
- Change the Bank Account
- Provide updated account information that may be required by Stripe
The account owner would be able to do this by:
- Logging into the TOTEM Dashboard
- Clicking Settings..Banking
- Clicking the [View Stripe Dashboard] button
If this button is not visible or disabled, then you are a leader for the association, but not the Bank Account Owner. If you need some of the changes mentioned above, you should contact the Bank Account Owner to have them complete these steps.
Q: How can I find out who is the Bank Account Owner for our association?
- Click Settings..Banking
- Under the Active Account see who is listed as '[Leader] connected this account on [date]'
The leader mentioned is the Bank Account Owner.
How to Change the Bank Account Owner
Option 1: The Account Owner is Available to Assist
The easiest way to change the account owner for the Stripe Account is for the current Account Owner to update the contact information on Stripe to the new owner. It is also possible for a new leader (President, Treasurer or Stripe Account Owner on TOTEM) to make this change, but the one-time 2FA code, sent to the old owner's phone will be required.
- Current Owner logs into TOTEM Dashboard
- Click on Settings..Banking..[View Stripe Dashboard]
- The Current Stripe Account Owner will receive a one-time code on their phone. This must be provided to login to the Stripe Dashboard
- Click PROFILE..Email and Mobile number
- Update the Phone (2FA number) and Email Address for the Stripe Account owner.
- OPTIONAL: If Stripe shows any alerts or requests additional account information to be provided, please provide that information during your session.
Option 2: If the Account Owner is NOT Available to Assist
You may need to change the Bank Account owner in order to stay in compliance with association regulations, to make one of the changes listed above, or if the original Bank Account Owner is no longer responsive or available. To change the Bank Account Owner:
- Login to the TOTEM Dashboard
- Obtain the name, and email address of the current Bank Account Owner (it will be a previous President or Treasurer)
- Create a signed Custodian Change Request on association letterhead. You must include all of the information as indicated on Custodian Change Request Template
- Email a scanned copy of the letter to [email protected] and CC [email protected]
- STRIPE will contact the old/new owner by email/telephone to verify the details of the request
- Follow any additional instructions requested by STRIPE
- Email [email protected] when STRIPE has confirmed the change is complete
- TOTEM will update the named Account Owner for your association
- The NEW account leader can now access the Stripe Dashboard via TOTEM by clicking Settings..Banking..View Stripe Dashboard
Once Stripe has completed verifying the information and changes the account owner, the new account owner will be able to make banking changes through the TOTEM Dashboard.