All entities within State Government are required to deposit their daily receipts into accounts in the name of the Department of State Treasurer (DST) based upon General Statutes 147-77 and 147-78.
While DST does not mandate where any agency chooses to deposit its funds, the Banking Operations group does facilitate the account opening and management of the account with the bank. These relationships consist of both large commercial banks as well as smaller regional and community banks.
As of September 30, 2016, the Banking Operations team has relationships with over 30 banks across the State with balances of over $190 million. We are proud to serve our agencies as well as our bank partners across North Carolina!
When an agency wishes to choose a depository for their daily receipts, Banking Operations partners with the agency to open the account and provide account assistance.
For additional assistance, please review the resources below, or contact our Specialized Banking Unit at 919-814-3905.
Guidelines for Official Depositories of State Funds
Handbook for banks wanting to hold deposits for NCDST. These guidelines detail how the account should be set up and how it will be maintained.
Current Bank Relationships (September 2016)
A list of banks with which the Treasurer’s office currently works to receive deposits for State agencies. These banks agree to comply with our guidelines to operate as a depository of State funds. The chart provides a link to each bank’s website which indicates branch locations in North Carolina.
Choosing a Depository Relationship
Agencies occasionally have the need to establish new depository relationships or to change existing relationships. The Specialized Banking Unit with the Banking Operations Section of the Financial Operations Division facilitates these actions.
For more information, please contact Banking Operations at 919-814-3905 or follow these steps to help you with the process.