In general, the best practice is for organizers to open a unique bank account for each financially-sponsored conference. That account is then closed at the conclusion of the conference’s financial activity.
In some parts of the world, opening and closing a bank account for each event may not be practical or even possible. In those cases, using an existing, approved, IEEE Geo Unit account—like a Section account—may be a viable option for managing the conference’s funds. If you intend to use a Geo unit account, it’s important to confirm approval from that unit’s leadership and ensure that conference activity is segregated from unit activity for financial reporting. Contact your conference business analyst or Conference-Finance@ieee.org if you intend to pursue this path for banking.