Bank account for community group

br1anst0rm

We are reviewing the banking options for a local voluntary community group (not a registered charity or trading organisation) following the closure of the local TSB branch where the group has until now had a "clubs and societies" account.  It would be useful to have suggestions from forum members, as the range of banking services offered to such groups seems to be diminishing dramatically.

The nearest TSB branch is now 300 miles away (!!).  We cannot go over to online banking, because we continue to need to handle cash and process cheques.  At present the only local remaining bank-branch is Bank of Scotland, from whom we moved the group's account some years ago as they appeared incapable of managing the process of amending account signatories as committee members/office-bearers changed.  Recommendations for user-friendly banking service providers who can efficiently administer clubs and societies accounts would be welcome.

Ideally in addition to a 'current' account to manage regular and routine financial admin, we would like to have an interest-paying deposit or savings account in which we could keep a proportion of our funds.  Advice on any provider who offers an interest-paying account to a community club or group would also be appreciated.

skycatcher

In NI the Ulster Bank allows community club accounts and you can deposit cash via the post office.....so perhaps its parent brand (RBS) will in GB......I should have added that you needed to be a personal account holder for them to grant you the saviour of opening then club account!

etienneg

You are correct - the options for such groups are diminishing. The usual advice is to deposit cash and cheques into their bank account using the Post Office. Do what you can online. If you really need to pay for things in cash, maintain a float.

Sadly, your hope for "user-friendly banking service providers who can efficiently administer clubs and societies accounts" is unlikely to be achieved. Much as it would be nice, don't expect too much from banks and then you're less likely to be disappointed. OK, you had a bad experience with Bank of Scotland a few years ago. But this is possible with any bank - you're just assuming things would be better elsewhere.

wisewonder

My group are currently with Lloyds and they now charge a fee, and their customer service centre staff are incompetent. Yesterday two of them told me cards were on order, this has happened several times since last August. No cards turning up in the post, lost card reports filed. New pin numbers arrive no cards. I went into the branch today and low and behold none ordered. This means we now have to return a £300 unspent grant back to the donor. Thanks to Lloyds incompetent and lazy staff

retiredbanker1

wisewonder said:

My group are currently with Lloyds and they now charge a fee, and their customer service centre staff are incompetent. Yesterday two of them told me cards were on order, this has happened several times since last August. No cards turning up in the post, lost card reports filed. New pin numbers arrive no cards. I went into the branch today and low and behold none ordered. This means we now have to return a £300 unspent grant back to the donor. Thanks to Lloyds incompetent and lazy staff

wisewonder said:

My group are currently with Lloyds and they now charge a fee, and their customer service centre staff are incompetent. Yesterday two of them told me cards were on order, this has happened several times since last August. No cards turning up in the post, lost card reports filed. New pin numbers arrive no cards. I went into the branch today and low and behold none ordered. This means we now have to return a £300 unspent grant back to the donor. Thanks to Lloyds incompetent and lazy staff

I hope that you will start a formal complaint and get most if not all of the grant as compensation!

Zanderman

br1anst0rm said:

We are reviewing the banking options for a local voluntary community group (not a registered charity or trading organisation) following the closure of the local TSB branch where the group has until now had a "clubs and societies" account.  It would be useful to have suggestions from forum members, as the range of banking services offered to such groups seems to be diminishing dramatically.

The nearest TSB branch is now 300 miles away (!!).  We cannot go over to online banking, because we continue to need to handle cash and process cheques.  At present the only local remaining bank-branch is Bank of Scotland, from whom we moved the group's account some years ago as they appeared incapable of managing the process of amending account signatories as committee members/office-bearers changed.  Recommendations for user-friendly banking service providers who can efficiently administer clubs and societies accounts would be welcome.

Ideally in addition to a 'current' account to manage regular and routine financial admin, we would like to have an interest-paying deposit or savings account in which we could keep a proportion of our funds.  Advice on any provider who offers an interest-paying account to a community club or group would also be appreciated.

You don't need a TSB branch to handle cash or cheques. Your local post office should be able to do that for you, using your TSB account.

Yorkie1

If you can find a way to manage the account via the post office, it would seem a good idea to consider keeping with that account. Fee-free accounts are almost disappeared from the banking scene, so you would struggle to find an acceptable replacement elsewhere. That account is no longer open to new business.

Olenna

The simple fact is that banks typically don't want these type of accounts as they're basically business accounts that they provide free or below operating cost. 

The TSB website says you can use the Post Office to deposit cash and cheques plus the account itself is free of charge; not sure you'll get a better deal elsewhere. Even if you move to the BOS paid equivalent, they may close the BOS branch leaving you with the Post Office down the line. 

WillPS

Virgin Money are perhaps loudest in their communication seeking business from such groups: https://uk.virginmoney.com/business/charities-clubs-and-societies/

Their branch network is currently even thinner than TSB's (no Welsh or NI branches and nothing south of Northampton in England). They do have a reasonable presence in Scotland though. In time the expectation is this will be harmonised with Nationwide but that is still probably years away.

Yorkie1

The trouble with the Virgin accounts are that you either need to be a registered charity, or have fewer than 10 transactions per month. 
We don't fit either.

WillPS

Yorkie1 said:

The trouble with the Virgin accounts are that you either need to be a registered charity, or have fewer than 10 transactions per month. 
We don't fit either.

There's not a hard limit of 10 transactions per month, that's just the limit before a monthly fee and transaction fees start applying.