Charity Bank Account

CICI

Hello,

I have set up a non-profit charity we offer support/information etc and it's really taken off, the only thing we are missing is a bank account in the charities name and the banks are just shutting us down due to credit so I assume, but we have been offered a great amount in donations from large organisations which we can't access due to the bank account not existing, what am I doing wrong?

Thanks so much!

Robin9

Try Charities Aid Foundation for banking

Have you a Charity number from Charities Commission ?

00ec25

I note your user name is CIC but you refer to yourself as a charity

that is mutually incompatible since a CIC cannot be a charity. A charity is registered and regulated by the charity commission and can call itself a charity, a CIC can't as it is regulated by the CIC regulator and is not a charity

presumably the reason "you" cannot open a bank account is because the bank won't accept that you are who you say you are.
Not all banks are interested in not for profit accounts, it a matter of asking around until you find one that is willing to provide a current account in your name. That may however require personal guarantees from the company directors to underpin it.
If "you" are not willing to do that, then you may have a big problem in getting any bank to accept you.

mookev

Has anyone any experience of the CAF bank, Charities aid foundation please? I am treasurer of our local IAM motorcycle group and we are looking to move to online banking, but need an system with dual authorisation of use, which our current bnk, nat west, do not offer.

Thanks

Savvy_Sue

mookev said:

Has anyone any experience of the CAF bank, Charities aid foundation please? I am treasurer of our local IAM motorcycle group and we are looking to move to online banking, but need an system with dual authorisation of use, which our current bnk, nat west, do not offer. 

If you are a registered charity, then I'd also look at Unity Trust and Triodos: the latter might accept you if you are not a registered charity. 

Of those two, I find Unity Trust is the easiest to use, but that might be because it's the one I've had most practice with. Definitely has the dual authorisation you need.