Club bank account

Jonec02

we have a skittle team & bank with Lloyds & just found out with get charged a maintenance fee, charged for putting money via the post office , etc.

can anyone suggest something better , we don’t use it a lot & only small money really

la531983

You mean you have a business bank account?

Most business bank accounts charge for cash deposits dont they?

mta999

There are definitely business bank accounts that will cater for your needs I think Google is your friend really

Yorkie1

If you have very few transactions per month, consider Virgin (even though they have recently been taken over by Nationwide, they are still operating as usual for now).

But lots of banks have started charging for association-type accounts, unfortunately. There have been quite a few threads about Lloyds in the last few months.

pramsay13

Unfortunately most banks are starting to charge for these accounts, or will offer it free for a limited time.

If anyone one your committee banks with NatWest you can have a look at their Community Bank Account.

It's almost worth someone opening a personal bank account just so you can then get the community account.

AlvyLad

Depends where you live, what (bank) physical branches are (near to you)- about, I'd recommend using PostOffice 0 charges for "cashing in", although beware they are limited to I think £10k per month free deposits and fairly sure £5k one cash deposit per account

Else, thingies Wise and/or Revolut are cheapest for normal banking

Yorkie1

https://forums.moneysavingexpert.com/discussion/comment/82023733#Comment_82023733

Yes, we'd considered that too

AlvyLad

https://forums.moneysavingexpert.com/discussion/6671150/club-bank-account

www.comparebanks.co.uk/banking/best-charity-bank-accounts/

good, detailed overview

Yorkie1

https://forums.moneysavingexpert.com/discussion/comment/82025227#Comment_82025227

Indeed, but those aren't available to club-type accounts where the club is not also a charity.

AlvyLad

https://forums.moneysavingexpert.com/discussion/comment/82025255#Comment_82025255

yes and no, main difference for a club as per say, from a business account, is lower fees, with several responsible adults having an access to

https://www.finder.com/uk/business-banking/opening-a-bank-account-for-a-club

pick and chose, then make a choice and whoever is treasurer, wherever you live, so that physical branches would be accessible make the choice based on it.