Setting Up Bank Account Information (Outside of US and Canada)

Procedures

Members should set up their bank account to allow for EFT transfers (see Record Expenses and Reimbursements). In some countries, a member of the bishopric or a clerk can add it for them. If members have added their bank account information online, a member of the bishopric or a clerk cannot add, edit, or delete it for them. The member is required to make any changes.

Adding Bank Account Information

To add bank account information in LCR:

1. Click Finance on the menu and then Participants. Navigate to the appropriate member.
2. Under EFT Methods, click Add EFT Method.
3. Fill out the needed information, including the account holder’s information and the person’s financial information.
4. In the Upload Documentation field, click Choose file to navigate to the file. It is also possible to drag and drop the file to the Upload Documentation field.
   
   • Note: The uploaded documentation needs to contain information from their financial institution or other approved financial information (bank name, mobile wallet telco company, mobile wallet number, routing number, account number, IBAN, and so on).
5. Click Review to view the file. Make sure all information is correct.
6. Click Accept.
7. Click Submit.
8. A second approver, either a different clerk or a different member of the bishopric, needs to review the file for accuracy.
9. An Approve Bank Information tile appears on the Dashboard notifying approvers that there is an approval needed.
10. The second approver clicks the name shown on the Dashboard tile. The information previously entered is shown on the Participant Information screen.
11. The second approver clicks to view the uploaded file of the financial institution and either approves or rejects the request. (If rejected, a Rejected Bank Information tile will appear on the Dashboard for review.)
    
    • IMPORTANT: The first approver who entered the bank information MUST DESTROY the bank information immediately after confirming that a second approver is successful. There are NO exceptions.
12. If approved, a member of the bishopric or a clerk is now able to process payments electronically to the payee.

Editing Bank Account Information

To edit bank account information in LCR:

1. Click Finance on the menu and then Participants and navigate to the appropriate member.
2. Under EFT Methods, click the Edit button.
3. Make the needed changes to the information displayed.
   
   • Note: If members have added banking information online, they must be the one to change any banking information.
4. In the Upload Documentation field, click Choose file to navigate to the file. It is also possible to drag and drop the file to the Upload Documentation field.
   
   • Note: The uploaded documentation needs to contain information from their financial institution (bank name, routing number, account number, and so on).
5. Click Review to view the file. Make sure all information is correct.
6. Click Accept.
7. Click Submit.
8. A second approver, either a different clerk or a different member of the bishopric, needs to review the file for accuracy.
9. An Approve Bank Information tile will appear on the Dashboard to notify a second approver that there is a review and approval needed.
10. The second approver clicks the name shown on the Dashboard tile. The information previously entered is shown on the Participant Information screen.
11. The second approver clicks to view the uploaded file of the financial institution and either approves or rejects the bank account information. (If rejected, a Rejected Bank Information tile will appear on the Dashboard for review.)
12. If approved, a member of the bishopric or a clerk is now able to process payments electronically to the payee.