Our Sports Club's Savings account

theholdways

We are involved in our village sports club and my husband is treasurer and thanks to advice last year we changed our savings account to Alliance & Leicester but they have dropped the interest rate from over 4% to 0.1% and having looked briefly on google and not getting much other than 0.5% wonder if anyone on here knows of any higher interest accounts for charities or clubs? Thanks

PS if this is a repeated thread please redirect me to other threads, thanks

martinman3

Try http://forums.moneysavingexpert.com/showthread.html?t=1330577

and definitely take a look at http://www.standardlife.co.uk/content/savings/business/charities_choice.html
but please note that deposits and withdrawals are made using Direct Debit from an external account.

You should also contact the FSCS to find out whether accounts for clubs and associations are protected as you may not be considered a small business. The response may influence your decision.

Mikeyorks

Do a Search on 'Budgeting and Current Accounts' forum using (Treasurer Account) .. include the brackets ...and you'll access a lot of previous threads.

But - like Trustee / Exor accounts I think you will find most accounts available to clubs have dropped their interest rates significantly. You should get better than 0.1% but you probably won't better the 0.5% you've found.