Savings for a group of people

LouRiley

Does anyone know the best savings accounts for a club. I have been running a Christmas Club for years but would like to move the account to a place where I get a better rate. Currently a Nationwide instant access !!!:eek:

martinman3

You can get a Abbey Business Reserve account which currently pays 3.75% on balances up to £9999 and interest can be paid monthly, which I believe is essential in your case. It comes with an operator card which allows you to deposit cash/cheques at Abbey ATMs and you can get a cheque book and write up to 5 cheques a month for free. If you need a cash card you can open a Business Bank account at the same time and transfer between them online.

http://www.anbusiness.com/business_account/deposit_account.shtml

The downside is you may have to deal with Abbey customer service at some point :eek:

Some building societies, such as Cheshire BS, do clubs/charities accounts but not many now, it depends if there is a branch local to you.

ryan07

you can get a number of banks...
i think you should search the internet for that...
what you should particularly check is the rate of interest cause i guess your club workings are seasonal...