Bank Accounts

Once you have settled on the right legal structure for your organisation, and have your documentation in place, (Articles of Association, Constitution etc) you can set up an organisational bank account.   

Please remember:  

• You need a bank account which is suitable for non-profit organisations 

• It can take around 8 weeks to set up a bank account 

• The name on your bank account needs to be exactly the same as the name on your governing document (Articles of Association, Constitution etc), if not it can cause issues especially when applying for funding. 

There are a variety of different accounts to choose from; local Credit Union, online banking, traditional bank account, do your research and ensure that the account you choose is right for your organisation.  Banks add and remove products constantly, so it is important to keep checking their website for the most up to date details. 

Community Wealth Builder do not endorse any bank accounts; however we have provided details of some of the accounts which are currently available. 

Co-op Community Direct Plus Account
https://www.co-operativebank.co.uk/business/products/current-accounts/community-directplus/?int_cmp=_cmpabtestb 

Lloyds Bank Treasurers Account
https://www.lloydsbank.com/business/business-accounts/treasurers-account.html  

NatWest Community Bank Account
https://www.natwest.com/business/bank-accounts/community-bank-account.html  

Bank of Scotland Treasurers Account
https://business.bankofscotland.co.uk/business-accounts/community-accounts/treasurers-account.html  

Bank of Scotland Community Account
https://business.bankofscotland.co.uk/business-accounts/community-accounts.html  

HSBC Charitable Account
https://www.business.hsbc.uk/en-gb/products/charity-banking-community-account  

Virgin Clubs and Societies
https://uk.virginmoney.com/business/charities-clubs-and-societies/clubs-and-societies-account/  

Credit Union – Community First Community Bank – Community Group Savings Account  https://www.communityfirstcu.co.uk/savings/community-group-savings/