Best bank account for a non-profit organisation?

Seajays

Does anyone know if there is anywhere on the site - or anywhere else for that matter, that provides any guidance on the 'best' current account for a small non-profit organisation?

We have about £5k in savings and an income of about £500 per month, with similar expenditure. For years we'd previously had this in a non-interest bearing business current account (I only just took over as treasurer and found that out!), however I've changed this now to an interest bearing business current account.

I'd like to look at options though - which banks have the best 'business' accounts - I imagine we could also move some of the savings to a better account too - again any pointers would be welcome!

Colin.

squashy

I don't know how it compares but I have used the co-operative and found them great, no excessive charging etc.

Maybe you could ask over on the charities board?

Smidda

What rate are you currently getting on the business savings a/c?

Seajays

Well we were getting 0% until I went in to the branch last week to find out what we were getting.

When I spoke to them they said they could easily change it (if I wanted!) to an interest bearing one, with no extra charges/changes or anything - they didn't even need me to fill in a form! It's just a current account - we don't have a separate savings account at the moment.

This is the current rate now...
Current Gross Rate % = 3.25
Current AER* % = 3.30