Community bank account for residents association

colsten

In case you have not seen this already: https://www.resourcecentre.org.uk/information/bank-accounts-for-community-and-voluntary-organisations/

fenlander_uk

colsten said:

Or this one, which may (or may not) come with FSCS protection: https://www.communityfirstcu.co.uk/savings/community-group-savings/

Looks interesting, but very short on details.

fenlander_uk

colsten said:

In case you have not seen this already: https://www.resourcecentre.org.uk/information/bank-accounts-for-community-and-voluntary-organisations/

Yes, that's a useful confirmation that most banks are not currently accepting new applications. It looks like Natwest or RBS - and I assume they are essentially the same thing.

Myrtle10

My problem is that my residents association (for 11 houses) was set up as a limited company to own the bits of common land between the houses. Barclays have closed our account, on spurious grounds, after many years. All the community accounts are designed for charities or clubs, Where do we go?

penners324

Just has to do the same. Opened a Virgin money business account 

penners324

The reference to a community account is causing people to post about community accounts.

You need a business account that preferably free.

Monzo, Starling, Tide, Virgin Money 

Edenbridge7

Hi all, anyone got any advice? We are a Private company limited by guarantee without share capital. Barclays closed our account we previously had, no high street bank will offer a business account as we are 'dormant'. Starling- no. Virgin money- can't complete the application due to not having turnover. Feels like a never ending battle. 

x44

Our private road un-incorporated Association uses NatWest

Seems to work OK from my viewpoint - I'm the bookkeeper for it.

There was a problem over changing authroised signatories list a while back but I've heard all banks seem to mess this one up regularly probably not aided by some of the signatories not doing exactly they were asked to do ID etc.

Zanderman

Edenbridge7 said:

Hi all, anyone got any advice? We are a Private company limited by guarantee without share capital. Barclays closed our account we previously had, no high street bank will offer a business account as we are 'dormant'. Starling- no. Virgin money- can't complete the application due to not having turnover. Feels like a never ending battle. 

You're posting a new enquiry into a 4 year-old thread about banking for a residents association. A thread that was last updated over 18 months ago.

Is your query also about a residents association? You don't actually say.

It might be better to start a new thread detailing your specific situation and needs rather than tag along on this one as you would probably get replies tailored to your query, rather some that will probably just be responding to the older original posts.

7sefton

Saffron Building Society offer a range of fee free savings accounts for businesses/community groups and offer online servicing & a cheque service:

Business accounts | Saffron Building Society
Community and Charity Savings | Saffron Building Society