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Low-cost banking for non-profit organisations, schools, charities, community, sporting groups and government agencies. Free banking when turnover is below £100,000. We'll need proof of your not-for-profit status before we open the account. Royal Business Community Account ® The Royal Business Community Account ® helps you keep costs low while giving you everything you need to manage the financial side of your non-profit group. VAT number GB853 7590 92. Day-to-Day Banking For the majority of Community Groups and small Charities who perform a limited number of banking transactions per month, the Scotia® Community Account Plan can help minimize banking fees. This means a significant amount of charities in the UK are eligible for the majority of community banks that are on the market. The type of charity bank account you can get will depend on: The type of organisations it can ⦠Bank on-the-go with the mobile banking app. You donât need to visit a branch to start a Community Account application, but you can find out more about the account (including what you need to open one) on our Community Account (opens in a new window) page. Compare Chase checking accounts and select the one that best fits your needs. Free cash withdrawals and deposits (below £10,000 per month). The benefit of being one of many subsidiaries is that, although the different banks are very much seperate entities, there is potentially less friction than otherwise (i.e. Together they allow the Group to serve the breadth of financial needs of a diverse range of millions of customers every day. Basic Accounting for Community Organizations and Small Groups will be useful to any small group that needs to keep accurate records of its financial transactions. All Resource Centre information is available for free because we know small community groups have small budgets. Nonprofit associations can work well when you have a short-term goal, such as raising money for a community event. Discover National Bank's range of chequing and savings accounts, and find the one that's right for you and your lifestyle. Many banks and building societies offer special current accounts for voluntary organisations and charities, and most give free banking if the account is in credit. On top of this, the organisation cannot deposit more than £100,000 in cash or deposit over 5,000 cheques (per annum). Itâs suitable for charities with an annual turnover of less than £500,000. You can switch bank accounts when applying online. Metro Bank is a relatively low-key bank in the UK, with only 70 branches and half a billion in revenues. Commerce Bankâs High Yield Money Market Account yields an excellent return, is easily accessible and is FDIC insured. utilities bill, benefit letter, tax demand, Waiting list of approximately 6 weeks for an appointment to open a new account, Groups must have charitable aims and annual turnover of less than £100,00, Check eligibility on their website, then call 0800 515 462 to start your application, New applications are currently only being accepted from people who already have a NatWest personal account. Before making a decision, itâs best to read the terms and conditions Business Accounts and Some charity bank accounts come with a monthly charge of around £5, but others come without a fee if you have a high enough balance in the account. A community amateur sports club. These are very convenient but do not generally give the security of a cheque payment that requires two signatories. This helps us to report to our funders. Organisations that qualify but have a turnover over this can still receive 12 months free banking, providing annual turnover is under £1 million. Free audit letter of certificate of balance (this is for tax purposes when approaching the end of the financial year). Choose to receive regular or monthly statements. Make sure you set your account up so that at least two people are required to sign each cheque, or approve withdrawals. Send us a fax. We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. Bank Accounts for community and voluntary organisations It can really help your group to run smoothly if the financial side of things is well managed and carefully looked after. It is your whole groupâs responsibility to do this â itâs important not to just leave it up Can switch bank accounts when applying online. Ulster Bank offers eligible not-for-profit organisations 24 months free banking when the annual annual turnover is under £250,000. Royal Bank of Scotland has created the account to enable community groups and not-for-profit organisations to access everyday banking services that cater for their needs. Have at least three people who are named as ‘signatories’ for the account, any two of whom can sign cheques. Just keep in mind that even/especially if you're charging direct to the club's account, you need to keep the receipts and keep the accounting clean to prove you're not embezzling. Our Community Current Account is designed specifically for clubs, societies and charities with 200 free transactions a month. Metro Bank offers a Community account that is free, providing annual turnover is below a very generous £2 million. Opening a nonprofit checking account at a smaller bank will likely include many of the same features as national banks, but a local bank with community ⦠Community Bank is home for our portfolio of financial services brands that features many of the UKâs best-known brands - Lloyds Bank, Halifax and Bank of Scotland. A really useful place for community groups, Royal Bank of Scotland Community Account, Managing funds for short-lived crisis-response groups, Legal structures for community groups and not-for-profit organisations, Entity Tax Residency Self-certification form, Getting outside help with starting a group, Support for Tenants' and Residents' Associations, Support for Resource Centre Member Groups, Favourite Funders for capital and equipment costs, Comic Relief Community Fund: Project delivery grants, Southern Housing Group Gardening Neighbours, Sport England Return to Play small grants, The Southern Co-operative: Love your neighbourhood fund, Trust House Charitable Foundation Small Grants, Favourite Funders for existing activities and running costs, Brighton & Hove City Council Communities Fund: Resilience Fund, Brighton & Hove City Council Communities Fund: Engagement Fund, Brighton District Nursing Association Trust, Sussex Crisis Fund: Food security in East Sussex, Favourite Funders for specific projects and new activities, Comic Relief Community Fund (England): Capacity Building Grants, Comic Relief Community Fund (England): Project Delivery Grants, National Lottery Covid emergency funding (over £10,000), Southern Housing Group Making Lives Better grants, Sussex Police and Crime Commissioner Community Safety Fund, Hiring equipment from the Resource Centre, Licensing and regulations for events and fundraising activities, Public liability and employer's liability, Independent examinations of accounts at the Resource Centre, Responsibilities of the Management Committee, Equality and diversity policies for small groups, Using the Disclosure and Barring Service (DBS), Getting outside help with running your group, Covid-19 regulations for community groups, State your case: how to write a campaign briefing, Getting outside help with organising events and activities, A community group's guide to radio and TV interviews. 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