Bank Account for fundraising

barrymung · 16 October 2018 at 3:22PM

All,

I do a little fundraising each year, maybe £500 or so which then gets passed on to various charities.

For a number of reasons I don't really like paying this money into my own account them pulling it back out again as it's not very visible and also I might confuse it with my own and spend it! I'd therefore like to set up a separate account, purely for fundraising.

I need an account with a chequebook and cash card, no minimum pay in per month, no ongoing fees but with easy-ish access.

Can anyone suggest a suitable account?

agrinnall · 16 October 2018 at 4:08PM

With only £500 a year going through it (and presumably the balance is smaller than that most of the time) any interest you might be able to earn is minimal, so any non-packaged account would be suitable. Either another account where you bank already or one at another institution. If you need branch access then take that into consideration.

PRAISETHESUN · 16 October 2018 at 4:22PM

Easiest approach would probably be to open a second current account with your own bank. Such a small balance is unlikely to gain much interest so it's probably not best to waste much time hunting around for the best deal.

barrymung · 16 October 2018 at 4:41PM

Interest isn't really a consideration. Local access is a good idea, although the Nationwide said they couldn't help, because "the account wouldn't be for personal use", which I thought was a bit tight! It *is* for personal use in that I'd personally go get the donations and personally go and give them to the chosen good causes! LOL!

agrinnall · 17 October 2018 at 8:36AM

barrymung wrote: »

Interest isn't really a consideration. Local access is a good idea, although the Nationwide said they couldn't help, because "the account wouldn't be for personal use", which I thought was a bit tight! It *is* for personal use in that I'd personally go get the donations and personally go and give them to the chosen good causes! LOL!

I'd agree with you and disagree with them, but the question is why did you even tell them how it was going to be used? Either try again at Nationwide and just say it's a personal account (or say nothing) or go elsewhere and do the same.

xylophone · 17 October 2018 at 12:55PM

Just open an account with another bank.

pramsay13 · 17 October 2018 at 1:35PM

I think it is for personal reasons, but maybe the bank hasn't understood you correctly.
Just open a bank account with Nationwide (or a second account if you already have one) and use it for the donations.

Bank Account for fundraising

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free