The only fee with the new bank is that they charge a fee for bounced checks. This usually happens only 3-4 times per school year though. Other than that, they waive everything for non-profits.
Our current bank is a 15 minute drive from the school and would be for any treasurer after me as well. We all live within 2 miles of our current school - a very congested part of NJ! The new bank is down the street from the school as well.
This is actually my last year at this school and I don't want a drive to the bank to be a stumbling block to recruiting a new treasurer. We have enough problems trying (begging) parents to volunteer for board positions.
Another thing - check on all fees. I seem to recall when we considered banks that one was more generous in waiving/reducing the fees to us when checks we were depositing bounced. And I think one had a monthly service fee, and the one we chose didn't.
Aloso, for us, the treasurer certainly has the most dealings with the bank. But other key officers sometimes make deposits or pick up change for cash boxes if she isn't available (especially deposits). So it needs to be generally convenient for our group.
I agree with everything JHB said. Plus, you might want to check your bylaws. Some are so specific as to state in there who can make that kind of change. Some banks also require you to have signed Board resolutions when you open the account or change signatories.
As long as there are no expenses incurred for the switch then I have to say I think it is okay for the President to tell you to go ahead and do it.
As the Treasurer it really on matters to you as you are the one that needs to go to and deal with the bank. I can't see other board members that have nothing to do with the banking aspect having any care as to where you bank as long as there are no fees or any other changes that would affect the account in any way.
I agree with POMOM. The group should be consulted. If you change, it should be planned as a relatively permanent change - not just for the year. So would the new location be equally convenient for others? For us, we chose a bank near the school, figuring that was fairly convenient for all involved.
Not only are there out of pocket costs as POMOM mentioned, but you really want an established relationship. Quirky stuff happens (like checks made out to practically anyone but meant for PTO). It's nice to have that long time relationship.
Also, there are some convenience things to check. For instance, our group wants a bank that has an in-house automatic coin counter.
