From time to time the Connexional office are asked to withdraw funds from deposits held in the Methodist Trust Association and deposit those funds into bank accounts.
Within the depositors system we hold bank account information for parishes, synods and other Methodist entities.
The policy of the Methodist Trust Association is that when a depositor (i.e. parishes, synods and other Methodist entities) asks for a withdrawal of funds, the Connexional Office will only deposit those funds into the bank account that is stored within the depositors system OR to a suffix account that relates to the base account number and no other account. This policy has been put in place to protect the depositor and allow for the correct flow of cash from the Methodist Trust Association to the depositor rather than to a third party bank account. It also means that the possibility of human error occurring through entering the wrong bank account is eliminated.
For example, if a parish requests that $5,000 is to be withdrawn from account 10010002 to a bank account number 02-0256-0101123-01 and that is the account the Connexional Office have set up, then the transfer will be done on the written instruction of the parish.
Assuming the same base number as above (0101123), if a parish requests that $5,000 is to be withdrawn from account 10010002 to a bank account number 02-0256-0101123-05 we will still make the transfer as the BASE account number of 0101123 remains the same.
If a parish requests that $5,000 is to be withdrawn from account 10010002 to a bank account number 02-0256-0991123-01 then the transfer will NOT be done as the base number is NOT the same.
As mentioned, this practice has been put in place to protect the depositor and the Church.