A Clearing Bank or an alternative to run a simple local charity....difficult

My retired wife who is involved with her local Church and several other small local charities is finding that dealing on a day to day basis with local clearing banks is becoming more and more difficult. Their administrative processes appear to be designed to make life as difficult as possible in terms of depositing cash, writing cheques, changing personnel within the charity etc.

It appears that your traditional clearing banks are doing everything they can to offload themselves of these unprofitable accounts, small time under £100,000 turnover affairs. Not worth their while, get rid.

Can anyone recommend a financial High Street organisation that encourages voluntary or socially engaged charities or cascs to manage their financial affairs? I have heard that Virgin Money are up for this but would love to believe the small time remaining Mutual Building Societies are too.

Currently, dealing with the awkwardness of the Clearing Banks is making my wife's genuine attempts to help people impossible.

«1

Comments

  • SiliconChip
    SiliconChip Posts: 1,279
    First Anniversary First Post Name Dropper
    Forumite
    This MSE article from 2021 suggests that at that time free charity accounts were still being operated by Barclays, Co-op Bank, Lloyds Banking Group, NatWest Banking Group, and Starling. Whether this is still the case 2 years later I don't know, but it may give you a starting point.
  • DiamondLil
    DiamondLil Posts: 641
    Photogenic First Post First Anniversary Name Dropper
    Forumite
    Until recently I was treasurer of a small local charity. We banked (and still do) with TSB. Very helpful and a good phone support service as well as the in branch service.
  • FredTrump
    FredTrump Posts: 321
    Name Dropper First Post Photogenic
    Forumite
    Virgin Money is a clearing bank. 
  • Yes, I realise that Fred, but does it encourage or discourage charities and cascs? There is little doubt that Barclays, HSBC, Lloyds etc are doing anything except making the life of a small time organisation as difficult as possible. They want rid is my guess.
  • Until recently I was treasurer of a small local charity. We banked (and still do) with TSB. Very helpful and a good phone support service as well as the in branch service.

    No TSB anywhere near us unfortunately...just checked.
  • WillPS
    WillPS Posts: 3,047
    Newshound! First Post Name Dropper First Anniversary
    Forumite
    Yes, I realise that Fred, but does it encourage or discourage charities and cascs? There is little doubt that Barclays, HSBC, Lloyds etc are doing anything except making the life of a small time organisation as difficult as possible. They want rid is my guess.
    Encourage, perhaps more than any other high street name right now:
    Charities Choice Account | Business | Virgin Money UK
  • eskbanker
    eskbanker Posts: 29,907
    First Anniversary Name Dropper Photogenic First Post
    Forumite
    Can anyone recommend a financial High Street organisation that encourages voluntary or socially engaged charities or cascs to manage their financial affairs? I have heard that Virgin Money are up for this but would love to believe the small time remaining Mutual Building Societies are too.
    Have you identified which ones operate in your area?
  • lr1277
    lr1277 Posts: 1,618
    Name Dropper First Post First Anniversary Combo Breaker
    Forumite
    If you are near a Metro bank, they offer an account for charities/community organisations.
  • wmb194
    wmb194 Posts: 3,119
    First Post First Anniversary Name Dropper Photogenic
    Forumite
    Yes, I realise that Fred, but does it encourage or discourage charities and cascs? There is little doubt that Barclays, HSBC, Lloyds etc are doing anything except making the life of a small time organisation as difficult as possible. They want rid is my guess.
    What are they doing to make things so difficult?
  • claire07
    claire07 Posts: 659
    First Post First Anniversary
    Forumite
    I am a treasurer of a small charity and we have always banked at Lloyds in their Treasurer's account.  This can be managed online but also has a cheque book and accepts paying in of cash.  
Meet your Ambassadors

Categories

  • All Categories
  • 341.8K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449.2K Spending & Discounts
  • 233.9K Work, Benefits & Business
  • 606.1K Mortgages, Homes & Bills
  • 172.5K Life & Family
  • 246.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards