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Thursday, June 26, 2014

New Corporate Bank Account Coming Soon! Why Do We Need One? Find Out Here:

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If all goes well with ROS and DBS, we will be opening our corporate Love Kuching Project bank account this Saturday.

We need a corporate account for better financial governance, to further assure cat-angels that donations are even better controlled.

While we already are aboveboard with our accounts, we want to be even more financially compliant, and a corporate account will tighten this compliance and help with our fundraising.

As of now, our cash in bank is $3,556.45. Minimum sum opening deposit is $3,000. We are delaying as many ongoing expenses we can to make sure the old account POSB savings 188-52652-7 does not zeroise and close because this current sum of $3,556.45 is cutting it very close.

We will announce our new corporate account details when it's done, and the current one will remain as there are many standing instruction donations into the POSB account. We will manage both accounts until all monthly donors are able to switch to the new account with the new details, which we will announce on our blog.

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