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  • FIRST POST
    • lad22
    • By lad22 10th Jun 17, 12:46 PM
    • 40Posts
    • 6Thanks
    lad22
    What's the best bank account for charities?
    • #1
    • 10th Jun 17, 12:46 PM
    What's the best bank account for charities? 10th Jun 17 at 12:46 PM
    Hi all,

    What's the best bank account for charities? Also, it would be much better for us to not have to move money every single year, so info on stable ones would be greatly appreciated.

    Thank you!

    Laura
Page 1
    • xylophone
    • By xylophone 10th Jun 17, 2:20 PM
    • 23,133 Posts
    • 13,408 Thanks
    xylophone
    • #2
    • 10th Jun 17, 2:20 PM
    • #2
    • 10th Jun 17, 2:20 PM
    http://www.money.co.uk/current-accounts/charity-bank-accounts.htm
    might be worth a look.
    • Westie983
    • By Westie983 10th Jun 17, 6:39 PM
    • 3,813 Posts
    • 13,921 Thanks
    Westie983
    • #3
    • 10th Jun 17, 6:39 PM
    • #3
    • 10th Jun 17, 6:39 PM
    I would go with the ones that have banks in your area, as if you need to pay money in and withdraw you want ease of access.

    I have had accounts with HSBC, and Lloyds, have reapplied to open a new lloyds account for my new Guide unit opening in September and found this was easier as I could apply online and forms was sent out to me, whereas Barclays and Natwest required me to visit a branch appointment with all my signatories which would be a challenge due to having to have at least three.

    Westie983
    Save 12k in 2017 #16 Total £21,355/£12,000 = 177.95%
    Sealed Pot Challenge ~ 10 #97 Total (£252) +£158/£500 = 82.00% ( x 10)
    Xmas 2017 £1 a Day #6 Total £360/£365 = 98.63%
    Virtual Sealed Pot #1 Total £1,500/£1,800 = 83.33%
    £2 Savers Club 2017 #3 Total (£1,450)+£50/£2,000 = 75.00%

    Total £25,125/£16,665 = 150.76%

    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • Mchambers
    • By Mchambers 10th Jun 17, 7:12 PM
    • 361 Posts
    • 138 Thanks
    Mchambers
    • #4
    • 10th Jun 17, 7:12 PM
    • #4
    • 10th Jun 17, 7:12 PM
    Hi all,

    What's the best bank account for charities? Also, it would be much better for us to not have to move money every single year, so info on stable ones would be greatly appreciated.

    Thank you!

    Laura
    Originally posted by lad22
    I am the charity.
    • arthur2
    • By arthur2 10th Jun 17, 10:23 PM
    • 61 Posts
    • 12 Thanks
    arthur2
    • #5
    • 10th Jun 17, 10:23 PM
    • #5
    • 10th Jun 17, 10:23 PM
    The money.co.uk page referenced above (#2) does not include Lloyd's. Strange.
    --
    Arthur
    • Nebulous2
    • By Nebulous2 11th Jun 17, 7:31 AM
    • 1,598 Posts
    • 972 Thanks
    Nebulous2
    • #6
    • 11th Jun 17, 7:31 AM
    • #6
    • 11th Jun 17, 7:31 AM
    The money.co.uk page referenced above (#2) does not include Lloyd's. Strange.
    Originally posted by arthur2
    Why would it? Does Lloyds have a charity friendly account not named?
    • Nebulous2
    • By Nebulous2 11th Jun 17, 7:34 AM
    • 1,598 Posts
    • 972 Thanks
    Nebulous2
    • #7
    • 11th Jun 17, 7:34 AM
    • #7
    • 11th Jun 17, 7:34 AM
    I'm involved with a charity, with some 6 employees and we use unity trust. Online only, but that works for us. It is used quite a lot, try a search on this forum, but again isn't on that list.

    For smaller groups, less than £50k turnover I've used a Bank of Scotland treasurers account. Changing signatories on those accounts was quite an ordeal, but apart from that they worked well. That was years ago though, I've no recent experience.
    Last edited by Nebulous2; 11-06-2017 at 7:40 AM. Reason: add info on BoS
    • arthur2
    • By arthur2 11th Jun 17, 9:21 PM
    • 61 Posts
    • 12 Thanks
    arthur2
    • #8
    • 11th Jun 17, 9:21 PM
    • #8
    • 11th Jun 17, 9:21 PM
    Why would it? Does Lloyds have a charity friendly account not named?
    Originally posted by Nebulous2
    Poster Westie98 (#3) mentioned yesterday that Lloyds can be easier to deal with, so it seemed odd that they would not be listed as having this type of offering.

    Until last year our local branch of national charity Diabetes UK used to bank with Lloyds for many years. (We had to switch to Barclays last year to be in line with HQ).
    --
    Arthur
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