![]() (You will probably still have to pay for things like going overdrawn, stopping cheques or requesting extra statements.) This means you won’t have to pay any charges simply for having the account. So you will need to go to the Business section of the website, but choose a Community or Club and Society account.) (Confusingly, community accounts are usually managed by the same team in the bank as business accounts, and will be listed on bank websites under “Business” rather than “Personal”. Banks usually charge for business accounts. ![]() Note that some banks only offer accounts to registered charities. Banks usually refer to community groups as “Clubs and Societies”. The account is specifically for community groups, or charities if your group is a charity.The bank may still write to ask for further details before opening the account.īefore applying for an account, check that: Be careful to fill the application form in thoroughly, and send all the information that is requested. Opening a bank account for your community group can take several weeks, or even a few months. It is designed specifically for community groups who do not have bank accounts, and you can use their online platform to manage your incoming and outgoing money. There is a set up cost of £42 and then a fee of 5-7% on incoming funds. The Social Change Nest acts like a bank and holds money on behalf of your group. If your group cannot open a bank account for some reason, or you need a system to use while you wait for your account to be opened, you may want to consider using a fiscal hosting service like the one provided by The Social Change Nest CIC. You also need a bank account in order to apply for grants, and should have one if you are collecting donations or fees. It is important for keeping track of your group’s money and making sure it does not get mixed up with individuals’ money. Most community groups need to have a bank account in the name of the group. ![]() Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.Information for community groups about choosing a bank and opening an account. 2065), registered office: 25 Gresham Street, London EC2V 7HN). Lloyds Bank plc (registered in England and Wales (no. Save the Change® is a registered trademark of Lloyds Bank plc. Terms and conditions apply.Īpple, the Apple logo, iPad, iPad Air, iPad mini, iPad Pro, iPhone, Touch ID and Face ID are trademarks of Apple Inc., registered in the U.S. Face ID requires either iPhone X or later models, or iPad Pro with Face ID capability (2018 onwards).Įveryday Offers is available to Lloyds Bank UK personal current account customers, excluding Basic Account holders, aged 18+ with a debit/credit card who bank online. Touch ID requires at least iPhone 5s running iOS 10.0 or above or iPad (5th generation), iPad Pro, iPad Air 2, or iPad mini 3 (or later models). When you use this app we collect anonymous location data to help combat fraud, fix bugs and improve future services. Your phone’s signal and functionality may affect your service. Be wary of any message that differs from this – it could be a scam. Any texts we send will come from LLOYDSBANK. Our emails will address you by your title and surname, and include the last four digits of your account number, or the last three digits of your postcode. Using our app won’t affect how we contact you. We use the latest online security measures to protect your money, your personal information and your privacy.
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