Church Banking Options

Last researched: 12/06/2020 This is not a list of recommended banks, or a comprehensive list but a list nonetheless of banks that may be suitable for church banking needs. All have Internet Banking options with dual authorization.

Co-Operative Bank CAF Bank Community Directplus Current Account CAF Cash Account  Free Banking  £5/month maintenance fee  The Co-operative Bank reserves the right to  Paying up to £8,500/month is free. Over review the account tariff for customers whose £8,500/month is £0.50 per £100 so £8,501 = credit turnover exceeds £1m per annum, who £42.50 deposit more than £100,000 cash per annum,  Pay in cash and cheques at HSBC branches or or who deposit more than 5,000 cheques per the counter service at any Royal Bank of annum. Scotland (RBS) branch in Scotland. You can  Paying in at a Post Office or Co-Op Bank also pay in cheques at any Post Office. branch  CAF Cash is a current account for charitable and not-for-profit organisations. NatWest Bank  CAF bank have a deposit platform that helps Community Bank Account you spread the risk to large deposits across  Free Banking up to £100,000. several banks at preferential rates with one  Paying in at a Post Office or NatWest Bank point of access to all funds. branch Reliance Bank Bank Salvation Army Community Bank Account NOTE: As of Sept Charity Account 2020, this account has changed to no longer be dual  For charities with an annual turnover of less authorization. than £500,000, we offer you FREE banking if  Free Banking up to £100,000. the account is operated in credit, with an  Barclays Bank branch average balance of £5,000 and there are no

more than 25 entries on average per month, and cash handled does not exceed £1000 per Unity Current Account week.  Paying in cash only at your local Post Office  For charities with an annual turnover of more  Paying in cash & cheques at your local than £500,000 we will review usage and likely NatWest, RBS and branches transaction costs with you to agree an  For organisations with an annual turnover up appropriate tariff. to £100k  Paying in facilities through a choice of High  Fee: £6 per month Street banks, such as Lloyds, Barclays, HSBC or  Charged: Quarterly .  Opening deposit: Minimum £500  Fee over £100k: £6 per month plus 15p per individual credit and debit transaction