Checking or cash accounts are the two types of revolving funds. Requests for more than one type of account is allowed. However, an account with both cash and checking is not allowable.

Contact the Revolving Fund desk for approval prior to opening an account.

The beginning funded balance of the account should not exceed twice the amount of expected monthly expenditures.

Checking Account

Information regarding which banks offer services to UW revolving fund accounts is offered here.

ATM cards are not permitted on revolving fund accounts unless designated for deposit only.

Complete the Application for Revolving Fund Checking Account. A signature card must accompany this form. This card informs the bank who can sign checks and where the statements should be mailed. Obtain a signature card from the Revolving Fund contact when opening an account with Bank of America or Wells Fargo.

Signature cards must include the signature of the Director of Financial Services or other central office designate official. The words "University of Washington" must always be included in the name of the bank account.

Expect five business days to process the application.

Cash Account

Complete the Application for Revolving Fund Currency Account.

Departments requesting an account for more than $99.00 must contact the UW Campus Police at 206-543-9338 to approve the methods of safeguarding the funds. A memo of approval will be provided by the police department.

Security

Checks, checkbooks, and cash must be locked and stored in a secured area. Contact UW Police if you are unsure of your security measures.