Author Topic: Bank accounts suitable for allotment society  (Read 9580 times)

Sue7

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Bank accounts suitable for allotment society
« on: November 28, 2022, 16:29:36 »
I'm on the committee of my allotment society.  At the last meeting our treasurer said the bank with whom we have an account is going to charge us transaction fees as well as the 5 monthly fee recently imposed.  Additionally, we have been trying to set up online banking to make life easier than using cheques for payments but the bank won't accommodate a system with 2 signatories/approvers which we have in our constitution to protect the society. 

Is there anyone on here who could recommend a bank or building society that is friendlier towards small societies like allotments?  One that ideally doesn't charge transaction or monthly fees, and in a perfect world, would allow online banking with more than one signatory.  I've read that banks don't really want societies as customers any longer so are making it unappealing to bank with them. 

Appreciate any suggestions or experiences you've had

Thanks
Sue

IanDH

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Re: Bank accounts suitable for allotment society
« Reply #1 on: November 29, 2022, 13:26:57 »
Try - https://www.unity.co.uk/sectors/charities/ I have experience of these which has always been posative.

Alternatively look here https://www.charityexcellence.co.uk/Home/BlogDetail?Link=Open_Charity_Bank_Account - Best Free UK Charity Bank Accounts For Charities And Community Groups.

Hope this helps.

Ian

Tulipa

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Re: Bank accounts suitable for allotment society
« Reply #2 on: November 30, 2022, 19:18:50 »
A lot of the banks are not wanting our small accounts now, last year we moved to Metro Bank as HSBC no longer had an account suitable and it seems to be working well if that is any help.

Sue7

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Re: Bank accounts suitable for allotment society
« Reply #3 on: December 01, 2022, 12:09:55 »
Thank you to both Tulipa & IanDH for the responses - both of which were really helpful.  Our bank account is currently with HSBC and now that they are charging us to have an account with them, it's time to find an alternative. I know that our treasurer has called a couple of other banks without any joy but there are some banks we hadn't thought of.  I shall pass your feedback onto our officers

Thank you again

 

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