Treasurers' Accounts

IMO, it's got to be Alliance and Leicester for ease and convenience. You can phone and transfer money from their deposit to the current account quickly and easily. Almost certainly they now do internet banking as well. You can also cash cheques at up to two nominated post offices and pay cash in at the PO, or by post. I know it's a bit of a pain now all the local PO branches are shutting down, but I suspect I'll always be closer to a PO than to a bank!

http://www.alliance-leicestercommercialbank.co.uk/ and click on the Community Accounts link at the lh side of the page. Deposit account pays 4.44% AER on deposits of £1 or more!

Apart from anything else, this is an account aimed at Clubs rather than a downsized business account.

If you're a charity there are other places to try, but if that's the case then search this bit of the board for previous threads on charity accounts.

Katey_Dog wrote: »

I couldn't find the 'Community' Accounts link. Help please.

sorry it is a rather old link so they've probably re-written their website a few times since then!

I don't know if they still do this Clubs and Societies Account - so why not contact them and ask, and let us know if they do ...

Hi there

I am the treasurer for my local church and we use the Co-operative Bank. Downside very few local branches, upside cheque book, free banking, ability to pay in at a pre-arranged post office (thus supporting our threatened local post offices) and you can check your balance on the phone (0845 no), check on recent transactions and have very good and helpful staff on the end of the phone! Also you get interest on any balance over £2,000. This is by far the best bank i have had dealings with.

Here's a link to the type of account we use (a Community Directplus account). Hope it helps you:

http://www.co-operativebank.co.uk/servlet/Satellite?c=Page&cid=1117004355903&pagename=CoopBankv2%2FPage%2FtplCBv2PageStandard

It is something you need to research once you've worked out how you DO use your account. We're a small local charity, but our monthly bank statement runs to five pages. We're writing fewer cheques, because we prefer to pay direct into people's bank accounts when we can. We rarely need to pay cash in, but we withdraw it about once a month. We have more payments going in by standing order than by personal cheque. So using an internet bank works for us - they pay interest on our current account, and the rate's better than we were getting from the Building Society. Of course as a good MSE I should be able to give you the rate, but I can't.

When I ran an out of school club, I was paying cash and cheques in every week, so easy access to a counter service was key. I was also writing at least 6 cheques every week, so one which didn't charge for that was vital! Since I was checking the balance every week, I liked being able to transfer money instantly from deposit to current account. Again, I don't remember the rate of interest, but I didn't think it was TOO dire!

Maybe my banking's always been a bit more intensive than yours!

http://www.volresource.org.uk/services/serv_bnk.htm#curr

there's a long list of current account providers and maybe savings accounts if you dig a bit deeper into their website

I manage a small local charity and we just have a RBOS Treasurer's Account at the moment. I agree, that they are not the most competitive accounts for interest rates, but the only legal type of account which Charirites, Voluntary and Community organisations can have!