Existing Scotwest In Schools Branches
If you are running an existing Scotwest in Schools branch or setting a new branch up, you will find all the branch forms and banking prodecure information that you need on this page.
Use this checklist to ensure that you have done everything necessary before the new school branch can start operating.
- Know Your Customer Verification Letter
This needs to be completed by the Head Teacher at the start of the process. It agrees that the authorised staff at the school will verify the identity of pupils opening an account through the school database, normally Seemis.
This MUST be returned to Scotwest before the branch start.
- Parent Letter
This letter should be issued to parents advising of the project
- Moneywise Account Application Form
Opening an account for a new member of your Scotwest in Schools branch is easy. Simply complete this form ensuring it is signed by an authorised signatory confiming the pupil’s identity and return it to the Scotwest Credit Union office and we’ll take care of the rest. The accompanying FSCS information sheet MUST be issued with the account form – this is a regulatory requirement and it has to be done before the account is opened. The pupil should keep the FSCS information and account Terms and Conditions.
- Moneywise Withdrawal Form
Withdrawals can be made from an MoneyWise Account at any time. The account holder should complete this form this form and return it to the Scotwest Credit Union office either directly or via the branch. On receipt of the form at Scotwest, funds will be paid out to the nominated bank account, by BACS and will take two working days to reach the account.
- Teller Details Form – page 1
This form needs to be completed by everyone, pupil or adult, who is involved in running the branch. It should be retrained at the school and acts as a record of the authorised tellers.
- Confidentiality Agreement – page 2
Every teller should complete this form and the school needs to ensure that tellers are aware of the need for keeping information confidential. This should be retained at the school with the Teller Details Form.
- Training Notes – Data Protection Act, Money Laundering and Know Your Customer (KYC)
These training notes give an overview of the various pieces of legislation the school should be aware of. All tellers should be provided with a copy of these notes and if there are any questions or further clarification is needed, please contact Scotwest on 0141 227 2390.
- Deposit Record
Tellers should use this form to reconcile the amount taken to the amount passed over for banking. This should be forwarded to Scotwest either by post with a cheque, or by email/fax if using Scotwest giros to pay in directly. A copy should be securely retained at the school for a month, in case of queries, after which it can be destroyed.
- Closure Form
Accounts can be closed at any time by completing this form and sending it to the Scotwest office.
School branches can decide whether or not they want to use these cards in their own branch,
- Record of Deposits
This form can be used by the pupils to record their deposits. It does not detail the balance in case the card gets lost.
- Deposit Forms
Pupils can complete these to hand over to the teller with their money and card (if being used). They can then be used to help reconcile the balance for banking as the total from the forms should also equal the amount to be lodged to the bank. The forms can be sent to the Scotwest office or retained at the branch for a month and then destroyed.
Once the collection has been balanced using the cash collected and Deposit Record (and lodgement forms if they are being used), the money is ready to be banked.
There are two ways to send the money to Scotwest to allow the funds to be credited to the pupils’ accounts:
The proceeds are passed to the school office and paid into the school bank account as with other funds received at the school. A cheque, payable to Scotwest Credit Union, should then be sent for the total amount, along with the Deposit Record and pay in slips to Scotwest Credit Union, 13 Elmbank Street, Glasgow G2 4PB.
The school has a supply of giros to pay in directly to Scotwest’s bank account. The total funds are banked and a copy of the Deposit Record should be scanned and emailed to Scotwest on firstname.lastname@example.org or by fax to 014 227 2391.