A View from the Turret on Bank Accounts

So you want to open a bank account?

That seems like a simple thing that most charities would want to do at some point in their organisational journey. You would think that the banking industry would welcome charities with open arms (large and small) as it provides good business, makes perfect and logical sense and is potentially philanthropic by its very nature and the connections it could create. How wrong could you be?

Everyday I hear of the struggles which charities are experiencing in both opening and maintaining a working bank account. This applies across the UK as equally as it does in Northamptonshire.

NAVCA, NCVO and others have been surveying community-based organisations about their banking experience and have highlighted four key themes which I recognise only too well.

Services that charities need are increasingly unavailable.

Services that are available are not suited to the way that charities operate.

Charities often encounter poor customer service.

Online banking is not designed for or accessible to charities.

Speaking from VINs own personal experience of the last two years, we have made at least 4 complaints against our well know high street bank for poor systems and shocking customer care. Whilst we have received compensation on nearly every occasion, they don’t seem to improve or even appear to want to.

If any organisations in Northamptonshire are struggling to open or maintain a working bank account, please let us know at info@voluntaryimpact.org.uk placing Banking in the subject line. We will forward your concerns to NAVCA as they open negotiations and debate with the banking industry.