Treasurer Bank Account

byollieleach

Hi all,
I'm after a bit of advice regarding the best Treasurer Account.  We are a non-profit organisation (scout unit) and need to open a bank account that can be used online but where all payments need to be authorised by two people. 
Was looking at Lloyds but they are not accepting new applications currently.  
Thank you in advance. 

jonesMUFCforever

Now is not the time I'm afraid to open these types of accounts - very low priority for the banks at present.

General_Grant

Charities Aid Foundation - CAF?  It offers accounts for not-for-profit organisations as well as registered charities.
They do say, "we are receiving more requests than usual for new bank accounts. Whilst we are continuing to accept new account applications, we have had to suspend our normal time-frame for opening accounts. We will do our best to open accounts as soon as possible on a best endeavours basis and we will be in touch with you when we are dealing with your application".

Chino

byollieleach said:

and need to open a bank account that can be used online but where all payments need to be authorised by two people.

This question has been asked before with no clear resolution posted. For example, see this thread:
Business Account - Dual Authorisation online banking

General_Grant

I am treasurer of a registered charity and use CAF for our main banking but also have an account with Barclays. 
For CAF two signatures are required - one authorised signatory sets up the payment and another logs in and provides the second authorisation.  Uses codes sent to mobile phones to gain access to view accounts and to set up and authorise.

blowy_lil

byollieleach said:

Hi all,
I'm after a bit of advice regarding the best Treasurer Account.  We are a non-profit organisation (scout unit) and need to open a bank account that can be used online but where all payments need to be authorised by two people. 
Was looking at Lloyds but they are not accepting new applications currently.  
Thank you in advance. 

Now is not the time I'm afraid to open these types of accounts - very low priority for the banks at present. 

 - FACT

General_Grant

blowy_lil said:

byollieleach said:

Hi all,
I'm after a bit of advice regarding the best Treasurer Account.  We are a non-profit organisation (scout unit) and need to open a bank account that can be used online but where all payments need to be authorised by two people. 
Was looking at Lloyds but they are not accepting new applications currently.  
Thank you in advance. 

Now is not the time I'm afraid to open these types of accounts - very low priority for the banks at present. 

 - FACT

CAF are accepting applications
- FACT

(The OP has not logged on since any replies have been posted.  Maybe they they succeeded elsewhere and don't need any further discouragement.)

jonesMUFCforever

General_Grant said:

blowy_lil said:

byollieleach said:

Hi all,
I'm after a bit of advice regarding the best Treasurer Account.  We are a non-profit organisation (scout unit) and need to open a bank account that can be used online but where all payments need to be authorised by two people. 
Was looking at Lloyds but they are not accepting new applications currently.  
Thank you in advance. 

Now is not the time I'm afraid to open these types of accounts - very low priority for the banks at present. 

 - FACT

CAF are accepting applications
- FACT

(The OP has not logged on since any replies have been posted.  Maybe they they succeeded elsewhere and don't need any further discouragement.)

Maybe the OP only thought of high street banks that he was familiar with and not something not everybody knew about.

General_Grant

jonesMUFCforever said:

General_Grant said:

blowy_lil said:

byollieleach said:

Hi all,
I'm after a bit of advice regarding the best Treasurer Account.  We are a non-profit organisation (scout unit) and need to open a bank account that can be used online but where all payments need to be authorised by two people. 
Was looking at Lloyds but they are not accepting new applications currently.  
Thank you in advance. 

Now is not the time I'm afraid to open these types of accounts - very low priority for the banks at present. 

 - FACT

CAF are accepting applications
- FACT

(The OP has not logged on since any replies have been posted.  Maybe they they succeeded elsewhere and don't need any further discouragement.)

Maybe the OP only thought of high street banks that he was familiar with and not something not everybody knew about.

Which is why I mentioned Charities Aid Foundation in the second response and that it was not just working with registered charities - because the OP may not have realised that it had a wider client base.  (They use HSBC.)

GraceCourt

I've found this thread because I, too, need to open a Treasurer's Account for a "not-for-profit" unincorporated society and it seems as though no financial service providers are doing so at present: at least, not without charging fees.

For many years we have had such a no-fee current account with HSBC, together with a "Money Manager" deposit account: we've stuck with them even though the latter account is earning only 0.01% interest on a balance of £5,000!  That's 4p/month!  But HSBC is introducing fees for such accounts and no-one else seems to be opening new Treasurer's Accounts:  Bank of Scotland aren't, neither are TSB, and although it's claimed that Starling Bank is doing so, they only list personal and business accounts on their web site.

Any suggestions?

JelliedEeles

Similar to GraceCourt, not for profit organization with a HSBC account. They are introducing charges that will cost us between £60 and £100 per year.
Looking for an alternate provider but none seem to be accepting applications at the moment.
Will investigate CAF (Charities Aid Foundation) mentioned in this thread.
Is it worth complaining to Financial Ombudsman about lack of choice?
£60 - £100 is a lot for my organization.