Learn about the rewards of the IEEE Concentration Banking Program.

 

IEEE Concentration Banking will be transitioning to become NextGen Banking in May 2021. Learn more.

 

IMPORTANT: Cutover dates for NextGen Banking

To get ready for the NextGen launch, please review the below cut over dates that are associated with the transition from Concentration Banking/CBRS to NextGen Banking:

16 April: Last day to submit book transfer prior to system change

26 April: Last day to submit wire transfer/ACH and MCE Payment Manager requests.

3 May

  • NextGen Banking opens to process wire transfer/ACH and MCE Payment Manager*
  • Final April transactions from PayPal will post

3-5 May: Final PNC transactions from late April will post

5 May: Expenses post into NextGen Banking System

6 May: April interest will post to accounts

10 May

  • Book transfers available in NextGen Banking system
  • Ending balance in CBRS from 31 April should equal NextGen Banking balance**

*Balance in NextGen Banking tool will not be accurate due to missing April transactions.

**There may be slight differences between the ending April CBRS balance and the NextGen Banking balance due to late April transactions that didn't post in CBRS but posted in NextGen Banking.

If you have questions during the transition, please email nextgenbanking@ieee.org

What is the IEEE Concentration Banking Program?

The IEEE Concentration Banking account works like a standard checking account. You make deposits, write checks, and earn interest on the daily ending balance. You can view your statements online and will receive a Concentration Banking Card, complete with debit features, which can be used internationally wherever credit cards are accepted (type of card received is dependent on account type).

The features include:

  • Account is available in either US Dollars (USD) or Canadian Dollars (CAD)
  • Banking supplies are provided free of charge
  • Bank by Mail: if a Wells Fargo branch is not in your area, postage-paid, Bank by Mail envelopes are provided for your convenience (for USD accounts only)
  • Access to online statements 24/7
  • No fee, incoming wire transfers
  • Easy transfer of funds between Concentration Banking accounts
  • Concentration-banking@ieee.org: one stop for all of your banking inquiries and requests.

Integrates with the following IEEE services:

Access Your Account

Contact information:

IEEE Concentration Banking Program Staff

Email: concentration-banking@ieee.org
Phone: +1 732 562 5363

CB Card Program

Email: cbcard@ieee.org
Phone: +1 732 465 5802
 

IEEE Concentration Banking current interest rates

Rates shown here are for March 2021:

USD Concentration Banking Accounts CAD Concentration Banking Accounts
0.36% 0.12%

 

  • USD rate is reset monthly based on the one-year CD rate.
  • CAD rate is reset monthly based on the six-month T-Bill rate.
Concentration Banking FAQs

Read this document for information on:

  • Opening a new IEEE Concentration Banking account
  • Making a deposit
  • Ordering additional supplies
  • Adding or changing authorized account signers
  • Accessing online statements
  • Transfer of funds
  • Other questions.