How do I set up a bank account for a youth sports team?

Answer by  Chaneygirl (1755)

Does the team have a federal identification number? Ideally, you would use that when you open the account at the bank or credit union. What are you doing with the money? Would it be easier to have a checkbook to write checks out of or just a savings account.

Answer by  technogeek (6640)

The easy way is very complicated. You can do the paperwork to have the team declared a non-profit organization, and then you could go to the bank and open a business account, but gaining non-profit status is a lengthy process.

Answer by  spragoo (1500)

All you will need to do is go to the bank of your choice and tell them that you want to set up a business account for a charity organization. The bank may even not charge fees or anything for it being a charity.

Answer by  audiocupcakes (346)

It would be set up as a business account and you as the coach would be the main person over it. You can put the account in your team's name however and give certain people permission to access the account.