What is the best account for a charity?

Rags_2

Does anyone have experience of running finances for a charitable organisation?

Which bank account (if any) would be most suitable?

Cheers

THIRZAH

I'm treasurer for a WI. We have an HSBC treasurers account with a cheque book etc plus some "savings" in a business account.

If you have an account at a local branch of any of the big banks I'd go and ask them about an account for your charity. It's so complicated opening accounts these days with all the rules about money laundering . Every time we change the signatories for our account all the new people have to go into the bank with their two proofs of indentity and we have to fill in a form. If you already have an account in that bank it may make things a bit easier

Anon

I am involved in a charity and we use Alliance & Leicester - they offer free banking for community/charity accounts, cheque book, online banking (a bit clunky!) and also have a deposit/savings account Community Instant Reserve whhc pays a not too bad 4.44%.

Information is available online at:
http://www.alliance-leicestercommercialbank.co.uk/content/SB010002.asp
http://www.alliance-leicestercommercialbank.co.uk/content/SB020005.asp (deposit)

Pay in by post, BACS or at the Post Office. Take out by cheque, cashcard.

Anon