For those managing a charity or community interest company (CIC), having a bank account specifically designed for non-profits can be invaluable. These accounts facilitate easy donation tracking, offer insightful financial tools, and streamline the process of claiming Gift Aid.
Explore the top bank accounts tailored for your charity or community group, with options from the UK’s foremost high street and online banking providers.
The Co-operative Bank Community Directplus Account
Ideal for: Registered charities, communities, credit unions, and co-operatives
Eligibility: Organizations with a turnover under £1 million and deposits less than £100k in cash and 5,000 total cheques
Features:
- No monthly fees or charges for cash and cheque deposits or withdrawals
- Cash exchange at £1.60 per £100
- Flexible banking options: online, in-branch, or at Post Office branches
- Ethical banking with a community and customer focus
- Up to four signatories allowed on the account
- FSCS protection for eligible deposits up to £85k
- UK-based customer support available Monday to Friday, 8am to 8pm
- Awarded Moneyfacts Best Charity Banking Provider 2016-2024
For more information, visit the Co-operative Bank Business Banking website.
Unity Trust Bank Business Current Account
Ideal for: Charities, councils, credit unions, and co-operative organizations
Account Options: Three accounts with varying turnover limits, all requiring a £500 minimum opening deposit
Features:
- No debit card issued
- Account fees start at £6 per month, billed quarterly
- Cash deposits: 50p per transaction at NatWest, RBS, or Ulster branches
- Cheque deposits: 30p per transaction at NatWest, RBS, or Ulster branches
- Post Office cash services: 60p per £100 deposited
- 24/7 online banking access
- Secure transactions with triple payment authorization
- FSCS protection for deposits up to £85k
- UK-based customer support team
For more information, visit the Unity Trust Bank Business Banking website.
Lloyds Treasurer’s Account
Ideal for: Non-profits such as charities, parish councils, churches, clubs, and societies
Fee Structure: Free day-to-day banking for organizations with a turnover under £50,000 per year
Features:
- Up to two signatories can access the account
- 24/7 account management online or by phone
- Free cash and cheque management for deposits and withdrawals
- Presentation cheques available for large donations or prizes
- Access to digital skills training via the Lloyds Bank Academy
- Account opening process takes approximately four weeks
- FSCS protection for deposits up to £85k
- Experienced UK-based support team
For more information, visit the Lloyds Bank Business Banking website.
Barclays Charity & Impact Account
Ideal for: Registered and excepted charities or community groups with a turnover under £100k
Fee Structure: Free everyday banking, including cheque processing, cash management, and coin exchange
Features:
- Cash collection from G4S starting at £15 + VAT
- Up to three account operators
- Flexible banking options: in-branch, by phone, or online
- Enhance online skills with Digital Eagles training
- Accept donations or payments online, by phone, or face-to-face with Barclaycard
- Full FSCS protection for deposits up to £85k
- Friendly UK customer support available Monday to Friday
For more information, visit the Barclays Business Banking website.
Santander Treasurer’s Current Account
Ideal for: Clubs, societies, and charities with a turnover under £250k per year
Fee Structure: Free banking
Features:
- Free cash and cheque deposits and withdrawals, including services at Post Office branches
- 24/7 banking available in-branch, by phone, online, or via mobile app
- Set up and manage text or email alerts
- Up to three signatories with the option to nominate additional account managers
- Over 450 branches across the UK
- FSCS deposit protection
- Friendly UK-based customer support team
- Awarded Moneyfacts Best Business Current Account Provider and Business Bank of the Year 2023
For more information, visit the Santander Business Banking website.
HSBC Charitable Bank Account
Ideal for: Established not-for-profit organizations with charitable purposes
Eligibility: Maximum annual turnover up to £2 million
Fee Structure: £5 monthly management fee
Features:
- Cash and cheque deposits cost 40p per transaction, plus 0.40% of the cash value
- Bulk deposits: 30p per transaction, plus 0.35% of the cash value, and 25p per bulk cheque
- Up to four signatories can access the account
- Free card and online payments via Business Internet Banking
- 24/7 banking online or in-branch at HSBC or any Post Office
- FSCS deposit protection up to £85k
- Experienced UK-based support team
For more information, visit the HSBC Business Banking website.
Need Assistance Choosing a Community Interest Bank Account?
If you’re navigating the options for your non-profit organization’s banking needs, reach out to us today. We’re ready to provide personalized advice and meet all your accounting requirements.
Call us today on 0207 078 7477 or complete our enquiry form in order to book a FREE initial CIC consultation.
Categories: Charities, charity bank account, CIC Bank Account, Club bank accounts, Clubs
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