Bank of Scotland starting to charge for Treasurer's / Association Accounts

indiegirl_2

My street self-governs and maintains the common areas by way of a small residents' association who set annual fees and collect payments from each house to cover costs.

We've had a Bank of Scotland Treasurer's Account for over 20 years, and have received notice that they're changing us to a Community Account. With this comes the introduction of a £4.25/mth charge and charges for all payments in and out.

Our turnover is very, very low (<£3000 a year) and whilst it isn't a huge charge, we're all a bit taken aback at having to pay £60+ a year to maintain the account. We generally keep a float of £1000-2000 in the account and have never earned interest on it.

We are looking for a new account. We are based in Scotland so the Metro account (which looks the best) cannot be opened because we need to open their account in person, in branch.

Can anyone suggest another account - we are an unregistered group, would like 2+signatories on each cheque (although we don't really use cheques now) and offers free banking - that we would be eligible to open as merely a bunch of neighbours! Thanks in advance.

penners324

Currently using Virgin Money for very similar purposes 

glennevis

Try Virgin Money (Clydesdale Bank).

Savvy_Sue

Lloyds and Bank of Scotland have links [I know because I do this kind of banking with both, and the interfaces are all but identical apart from the name], and Lloyds have just started pulling this stunt on holders of their Treasurer's Account.

Here's the discussion we've been having on the Charities board: https://forums.moneysavingexpert.com/discussion/6539838/no-fee-bank-account-for-non-profit-group

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