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Best interest for a charity
wadewade
Posts: 735 Forumite
I'm the treasurer of a local charity. Until recently we had our reserves with Virgin but they have just halved our interest to about 1%.
Many building societies don't seem to want to know you if you are a charity and the big banks offer derisory rates.
Does anyone know where I can get a half decent rate? At present we have some in an instant account and some on a few months notice. Total = £40K.
Thank you.
Many building societies don't seem to want to know you if you are a charity and the big banks offer derisory rates.
Does anyone know where I can get a half decent rate? At present we have some in an instant account and some on a few months notice. Total = £40K.
Thank you.
0
Comments
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Santander 123 was recommended to me
3% interest on balances up to £20k
Instant access, there are just a few monthly criteria which need adhering to.0 -
Santander 123 was recommended to me
Santander 123 is a personal account. The OP is looking for an account for a charity.
See MoneyFacts for Charity Accounts.
http://moneyfacts.co.uk/business/charity-account/
1% from Virgin still looks competitive for instant [STRIKE]online[/STRIKE] access.
Update: My mistake. Virgin Charity Deposit is a Branch & Post operated account.
Monmouth BS offers 1.1% with online access but charges for more than two withdrawals per month.0
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