Bank accounts for charities

Does anyone who runs a charity have any suggestions or recommendations about current accounts. My church has had a CAF account for many years, but cash has to be paid into a branch of
HSBC with a counter service. Our nearest one is 20miles away and we have to make deposits weekly. We tried to open an account with other high street banks but have been refused by them all. We have been told that CAF are in negotiations with the post office, but how long that will take we don't know. Would appreciate any suggestions.

Comments

  • WillPS
    WillPS Posts: 3,057
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    edited 27 September 2023 at 3:38PM
    No personal experience, but the bank most forthrightly looking for such clients at the moment is Virgin Money:
    https://uk.virginmoney.com/business/charities-clubs-and-societies/charities-choice-account/

    Even if a branch isn't nearby, you should be able to use a Post Office.

  • Robin9
    Robin9 Posts: 11,974
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    You can pay cheques into your CAF account at the Post Office

    Also you can encourage Standing Orders and use Contactless via Sum Up, Zettle or GWD to reduce the amount of cash.
    Never pay on an estimated bill
  • WillPS
    WillPS Posts: 3,057
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    edited 27 September 2023 at 5:44PM
    Robin9 said:
    You can pay cheques into your CAF account at the Post Office

    Also you can encourage Standing Orders and use Contactless via Sum Up, Zettle or GWD to reduce the amount of cash.

    https://www.postoffice.co.uk/caf - seems they only accept them with a paying in slip and envelope - at which point you might as well post the flipping thing.

    I think it's inevitable that anything involving a collection plate will involve banking cash.
  • Virgin Money is highly recommended and offers products made specifically for charities. I guess this will increase your chances of being accepted, and they don’t look like bad products too and good service.

    https://uk.virginmoney.com/business/charities-clubs-and-societies/charities-choice-account/
  • General_Grant
    General_Grant Posts: 4,758
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    edited 29 September 2023 at 10:17AM
    What value of cash is being processed?  

    I am involved with a charity's finances with CAF accounts.  We don't have cash deposits to make on a weekly basis but when we do receive cash (say 6 times a year) and to avoid any extra charges for cash handling and using another account, a member takes the cash (providing a receipt for it) and then transfers that amount from their own bank account.

    What the person does with the cash they process is up to them.  I keep some for personal day-to-day spending and bank the rest either into my NatWest current account or to a savings account which accepts cash.  It takes time but benefits the charity.
  • WillPS
    WillPS Posts: 3,057
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    What value of cash is being processed?  

    I am involved with a charity's finances with CAF accounts.  We don't have cash deposits to make on a weekly basis but when we do receive cash (say 6 times a year) and to avoid any extra charges for cash handling and using another account, a member takes the cash (providing a receipt for it) and then transfers that amount from their own bank account.

    What the person does with the cash they process is up to them.  I keep some for personal day-to-day spending and bank the rest either into my NatWest current account or to a savings account which accepts cash.  It takes time but benefits the charity.

    You're likely breaching the terms of your personal accounts by doing this. Unlikely to get stung if you're only paying in small amounts a handful of times but I still wouldn't advise it.
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