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hvoss (Herefordshire Voluntary Organisations Support Service)

11 Mar 2022

Community Bank Accounts


hvoss has created an overview of the current bank accounts available for groups and community organisations within Herefordshire. Choosing the correct bank account is a crucial decision as supporters making donations expect their contributions to be protected and managed effectively.

 

NatWest Community Account

Requirements

At least one of the parties named in the application must be an existing NatWest customer - if there is no existing NatWest relationship your application will be declined.

What is available 

  • Free banking if your community account's annual credit turnover is less than £100,000 If your turnover exceeds £100k, your account will be moved onto our Standard Tariff. Fees & charges

  •  Contactless debit card

  • Access free online accounting software with this business banking current account

  • 24/7 Online Banking and Phone Banking

  • Bank anywhere with our mobile banking app

  • FreeAgent accounting software 

  • Bankline for Communities is a unique digital service which lets groups setup multiple users and digitally sign payments together. Available for free for unincorporated groups with a turnover up to £100k. 

 How to apply

NatWest customer can apply online, Further information and application

 

 HCBC Charitable Bank Account

Requirements

Eligibility criteria broadly aligns with the definitions of charitable organisations set out in the Charities Act 2011.

 What is available

  • 24/7 Digital Banking solutions such as Business Internet Banking and HSBC UK Business Banking app to enable payments and mange accounts online

  • Cash and cheque deposits in HSBC UK branches or Post Office locations

  • Regular monthly statements

  • Contactless debit card

Fees

£5 - Monthly Fee  

Free - Payments online (made via Business Internet Banking)

Free - Debit card payment 

0.40% of value deposited - Cash deposit in branch or Post Office 

40p per cheque - Cheque deposit in branch or Post Office 

How to apply?

  • If your organisation is a club, society, or association with a turnover of less than £2m you can apply online. All key controllers can complete their details in their own time, and you will need to upload the required supporting documents during the application process.

  • If your organisation is not a club, society or association or has a turnover of more than £2m, you will need call HSBC on 0800 731 8904 to discuss the next steps

 

    The co-operative bank community direct plus

Requirements

  • All key controllers must be 18 or over, a UK resident with a business address in the UK and free from financial judgements, arrangements and missed payments.

  • The organisation must be a registered charity, co-operative or community benefit society registered with the FCS, credit union or community interest company

  • Account must not go above any one of the following annual account limits:

  • Credit turnover more than £1 million

  • Deposit more than £100,000 in cash

  • Deposit more than 5,000 cheques

 What is available

  • Free Post Office deposits

  • Incoming a payment app

  • Access to legal, technical and HR services with Assurant

  • Access to merchant services with Fiserv

  • Free business webinars

  • PVC- free debit card

  • A beyond carbon neutral bank

  • Mobile App and UK based customer support

  • Online Banking and Branch support

Fees

Free-  Monthly service charge

Free - Cash paid in branch and Post Office

Free - Cheques paid in branch and Post Office 

£1.60 -  Cash exchanged  (Per £100)    

How to apply

  • Company details, including tax information, expected turnovers and funds received by business

  • Identity documents, such as driving license

  • A device to take a selfie

  • Key holders’ details, full name, contact details, date of birth and address history for all.

  • You need to read and save important documents such as account Terms and Conditions

 

Application can be found here

 

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