Best bank account for a small international charity?

Juliet_D

Can anybody please help? I am in the process of setting up a small charity where payments will need to be paid overseas to employ staff locally on the ground.


I need to open a bank account: any advice for options about the best bank to use in this scenario and also what type of account? Would I need to open an account for a non for profit organisation rather than a business account?


Any help gratefully received, thanks in advance

dr_adidas01

Juliet_D wrote: »

Can anybody please help? I am in the process of setting up a small charity where payments will need to be paid overseas to employ staff locally on the ground.


I need to open a bank account: any advice for options about the best bank to use in this scenario and also what type of account? Would I need to open an account for a non for profit organisation rather than a business account?


Any help gratefully received, thanks in advance

CAF might be able to help you with a charity bank account, though I don't know about there charges for sending money over seas.

https://www.cafonline.org/charity-finance--fundraising/banking.aspx

10pence

Can't speak for CAF, but for other banks it will depend on the countries you intend to deal with too -- AML etc.

Also, will be be registering with Charity Commission - think turnover has to £5k and you must. Could have an impact on type of account high street banks will offer.

Goldiegirl

CAF Bank charges £20 per transaction sent overseas -doesn't matter which country the money is sent to.

Juliet_D

Thanks for your help everyone. Yes, it turns out CAF is not great for international charities. Still hunting, but thanks anyway