Booster clubs are becoming increasingly important to the operations of many teams and organizations. In this blog post, we’ll walk you through what is necessary for setting up a bank account in the club’s name.
Collecting checks costs more than you may think, both in time and in money. The inconvenience of paying team dues by check is apparent to many parents, coaches, and team administrators, but not everyone realizes the true costs that checks have on a team’s collections process.
Here are the pros and cons of youth sports bank accounts at each of the four banks we talked to: Bank of America, US Bank, Wells Fargo, and Citibank. Keep in mind, your mileage may vary and banks change their pricing all the time.
Youth sports organizations across the country, regardless of sport, need low-cost checking accounts to run their teams effectively. A bank account is important to a youth sports team because it is a hub for the organization’s finances, which enables teams and clubs to collect payments, pay for expenses, and much more.