What's the best bank account for charities?

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lad22
lad22 Posts: 81 Forumite
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in Budgeting & bank accounts
Hi all,

What's the best bank account for charities? Also, it would be much better for us to not have to move money every single year, so info on stable ones would be greatly appreciated.

Thank you!

Laura

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  • xylophone
    xylophone Posts: 44,420 Forumite
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    http://www.money.co.uk/current-accounts/charity-bank-accounts.htm
    might be worth a look.
  • Westie983
    Westie983 Posts: 5,213 Ambassador
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    I would go with the ones that have banks in your area, as if you need to pay money in and withdraw you want ease of access.

    I have had accounts with HSBC, and Lloyds, have reapplied to open a new lloyds account for my new Guide unit opening in September and found this was easier as I could apply online and forms was sent out to me, whereas Barclays and Natwest required me to visit a branch appointment with all my signatories which would be a challenge due to having to have at least three.

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  • Mchambers
    Mchambers Posts: 1,054 Forumite
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    lad22 wrote: »
    Hi all,

    What's the best bank account for charities? Also, it would be much better for us to not have to move money every single year, so info on stable ones would be greatly appreciated.

    Thank you!

    Laura

    I am the charity.
  • arthur2
    arthur2 Posts: 82 Forumite
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    The money.co.uk page referenced above (#2) does not include Lloyd's. Strange.
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    Arthur
  • Nebulous2
    Nebulous2 Posts: 5,116 Forumite
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    arthur2 wrote: »
    The money.co.uk page referenced above (#2) does not include Lloyd's. Strange.

    Why would it? Does Lloyds have a charity friendly account not named?
  • Nebulous2
    Nebulous2 Posts: 5,116 Forumite
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    edited 11 June 2017 at 7:40AM
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    I'm involved with a charity, with some 6 employees and we use unity trust. Online only, but that works for us. It is used quite a lot, try a search on this forum, but again isn't on that list.

    For smaller groups, less than £50k turnover I've used a Bank of Scotland treasurers account. Changing signatories on those accounts was quite an ordeal, but apart from that they worked well. That was years ago though, I've no recent experience.
  • arthur2
    arthur2 Posts: 82 Forumite
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    Nebulous2 wrote: »
    Why would it? Does Lloyds have a charity friendly account not named?

    Poster Westie98 (#3) mentioned yesterday that Lloyds can be easier to deal with, so it seemed odd that they would not be listed as having this type of offering.

    Until last year our local branch of national charity Diabetes UK used to bank with Lloyds for many years. (We had to switch to Barclays last year to be in line with HQ).
    --
    Arthur
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