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  • FIRST POST
    • Eco Miser
    • By Eco Miser 19th May 17, 11:41 PM
    • 2,790Posts
    • 2,581Thanks
    Eco Miser
    Bank account with restricted online access for association
    • #1
    • 19th May 17, 11:41 PM
    Bank account with restricted online access for association 19th May 17 at 11:41 PM
    I am treasurer of a newly formed constituted association, with aspirations to become a charity one day.
    We want a bank account where I (or other signatories) can check balance and transactions online, but not pay money out online, unless there is a method to authorise such payments by two or more of the signatories.

    Can anyone recommend such an account? Do they even exist?
    Eco Miser
    Saving money for well over half a century
Page 1
    • PeacefulWaters
    • By PeacefulWaters 20th May 17, 6:18 AM
    • 6,202 Posts
    • 7,564 Thanks
    PeacefulWaters
    • #2
    • 20th May 17, 6:18 AM
    • #2
    • 20th May 17, 6:18 AM
    Somebody once told me HSBC have an excellent online facility for clubs and society's that does exactly what you ask.

    I have no first hand experience of it.
    • Robin9
    • By Robin9 20th May 17, 7:36 AM
    • 1,394 Posts
    • 886 Thanks
    Robin9
    • #3
    • 20th May 17, 7:36 AM
    • #3
    • 20th May 17, 7:36 AM
    I am secretary to a small charity that banks with CAF. I can view balances / statements but would need to complete a separate application if I wanted to do and transactions.
    • EachPenny
    • By EachPenny 20th May 17, 11:33 AM
    • 613 Posts
    • 373 Thanks
    EachPenny
    • #4
    • 20th May 17, 11:33 AM
    • #4
    • 20th May 17, 11:33 AM
    It would be a great way to help tackle online fraud if customers were able to set their own limits on transaction types and values - for example only being able to transfer money online to specific accounts, or with a daily/transaction limit of say 100.

    Some banks - e.g. Clydesdale/Yorkshire - allow customers to opt to have a verification device to authorise transactions over a certain value. But I'm not familiar with any that allow user defined limits or blocks on online transactions.

    Edit: Some of the smaller (and not so small) building societies have accounts which can be viewed online, but have no online transaction facility. However, these are normally savings accounts so may not suit the OP's purpose.
    Last edited by EachPenny; 20-05-2017 at 11:35 AM.
    "In the future, everyone will be rich for 15 minutes"
    • bb88
    • By bb88 21st May 17, 12:12 PM
    • 2 Posts
    • 1 Thanks
    bb88
    • #5
    • 21st May 17, 12:12 PM
    • #5
    • 21st May 17, 12:12 PM
    I'm involved with an organisation that has exactly that - for us our account is through the Bank of Scotland but I believe Lloyds for those south of the border. Online payments can be setup by a user but must be approved by another one of the account signatories can go through. We don't have it setup as granular as individual user limits but I think that is an option too.

    The Treasurer Account comes under the business banking sections but is free to operate up to certain turnover limits
    • mt99
    • By mt99 21st May 17, 12:21 PM
    • 284 Posts
    • 124 Thanks
    mt99
    • #6
    • 21st May 17, 12:21 PM
    • #6
    • 21st May 17, 12:21 PM
    If you are happy to do the balance checking on your mobile phone, the Nationwide app lets you 'peek' at your current account balance without signing in etc. Should you want to make transactions etc you have to either logon to the desktop or use your pin to enter the mobile app.
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