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Deposit Account Management
Transactions are permanently assigned to a specified deposit account for billing. Updating the deposit account's details when your banking information changes, rather than creating a new one, will retain that history.
Any Financial Administrator assigned to a deposit account can update its details. You also modify which Financial Administrators are assigned to manage a deposit account. It is not recommended to switch Search and Filing Users between deposit accounts for billing, especially if there are pending transactions.
Changing a Search and Filing User's deposit account for billing will restrict their access to transactions conducted on the deposit account they were previously assigned to. It is not advisable to switch between deposit accounts that may have pending transactions. If your organization needs to modify the banking information for a deposit account, have your Financial Administrators update the deposit account's details rather than creating a new one.
Update a Deposit Account
From Account Management, click the Deposit Accounts tab
Find the deposit account in the list and click the deposit account's name
Only Financial Adminstrators assigned to a deposit account can access its details. For other Financial Administrators and User Administrators, the deposit account's name does not have a link.
Update any information about the deposit account:
- Deposit Account Name
- Low Balance Threshold
- Approvals Required for Funds Transfer
Update the Financial Institution Account Information. See How to Identify Financial Account Information:
- Financial Institution Number: the 3-digit number of your bank or credit union
- Branch/Transit Number: the 5-digit number of your bank branch or credit union branch
- Account Number: the number of your bank account or credit union account (may be up to 12 digits)
Change Financial Administrators:
- Click Manage Financial Administrators
- Check or uncheck checkboxes to select Financial Administrators. You will need to check at least as many as the number of approvals required.
- Click Done
You must assign Financial Administrators to manage your deposit account and those Financial Adminstrators must be signing officers on the bank account.
Read the myLTSA Enterprise Preauthorized Debit Agreement then check the associated checkbox to agree. This will need to be agreed to every time you make a change to your deposit account.
Click Update Deposit Account. To cancel the changes and return to the previous page, click Cancel.