15 Best Bank Accounts for Charities (2024)

15 Best Bank Accounts for Charities in 2024

·Updated 18/10/2024·

If you manage a charity or community-interest organisation then you may want to look at bank accounts designed specifically for non-profits. They can help track and set up regular donations, offer helpful financial insights and even simplify Gift Aid claims.

Find the best bank account for your charity or community group with deals from the UK's top high street and online charity banking providers.

Zempler Bank Business Accounts

No-credit check bank accounts available to registered charities
Or you can register your charity & get a free account at the same time
Offer two plans, one free & the other £9 a month, with cashback
Both charge a 0.5% fee for cash deposits at any Post Office, no cheque deposits
Bank transfers cost 30p but you'll get three or 20 free each month, depending on account
Card payments are free while ATM withdrawals are charged £2, free on the paid account
Get spending reports & integrate popular accounting software
FSCS-protected online bank, covering money up to £85,000
Have a UK based support team, available by phone Mon-Fri 8am to 8pm (Saturdays until 4pm)

Website Read our in-depth Zempler Bank review

Equals Money Business Account

Multi-currency business account with expense cards available for UK charities
Get own named accounts with personalised onboarding for ease
Non-profits & charities get are not charged an annual fee
ATM cash withdrawals are charged at £1.50
Send, receive & manage your money in 38 currencies
Transact for free in 20 major currencies, a 1.5% fee applies for other currencies
Have unlimited users with no monthly fees, physical cards cost £10, virtual cards are free
Offer UK support & direct line to account manager Mon-Fri in business hours
Have extra control with dual-authorisation payment approvals

Website

The Co-operative Bank Community Directplus Account

Account for registered charities, communities, credit unions & co-operatives
Eligible if turnover is less than £1 million & deposits are less than £100k in cash & 5,000 total cheques
No monthly fee or any charges for cash & cheque deposits or withdrawals
Exchange cash for £1.60 per £100
Bank online, in-branch or at Post Office branches
Community & customer focused bank with ethical values
Have up to four signatories for the account
Eligible deposits, up to £85k, are protected by the FSCS
UK customer support team available Mon-Fri, 8am to 8pm
Awarded Moneyfacts Best Charity Banking Provider 2016-2024

Website Read our in-depth The Co-operative Bank review

CAF Cash Account

Made for registered & unregistered charities, by a charity
Simple monthly fee of £5 with free bank transfers & interest on daily credit balances
Free cash withdrawals & deposits, up to £2,000 per month
Pay in up to 20 cheques each month for free
Partnered with Worldpay so your charity can accept card payments
Counter services available at Post Office, HSBC & Royal Bank of Scotland branches
Offers CAF charity deposit platform for simplified saving
24/7 online management with dual authorisation
Money is protected by the FSCS, up to £85,000
UK-based customer service team available Mon-Fri, 9am to 5pm

Website Read our in-depth CAF Bank review

Unity Trust Bank Business Current Account

Available to charity, council, credit union & co-operative organisations
Three accounts with varying turnover limits all with a £500 minimum opening deposit
No debit card is issued with the accounts
Account fees start at £6 per month, charged quarterly
Cash & cheque service deposits cost 50p & 30p (respectively) at NatWest, RBS or Ulster branches
Cash services at the Post Office cost 60p per £100 paid in
Bank whenever with 24/7 online baking
Sending money is secure with triple payment authorisation
Deposited money is protected by the FSCS, up to £85,000
UK-based customer support team

Website Read our in-depth Unity Trust Bank review

Metro Bank Community Current Account

Free bank account for clubs, societies & registered charities
Suitable for organisations with annual turnover up to £2 million
200 free transactions each month, 20p afterwards
Withdraw & deposit up to £10,000 per month for free
Maximum of three account users allowed
Choice of in-store, phone, app & online banking
Dedicated Relationship Manager
Free coin counting offered in all Metro branches
Deposits are protected by the FSCS up to £85,000
Highly rated bank for customer service

Website Read our in-depth Metro Bank review

NatWest Community Bank Account

Everyday account made for charities & non-profit organisations
No monthly fees when annual turnover is less than £100,000
Free transfers, card payments, cash & cheque services
Authorise up to four individuals as signatories
Comes with contactless debit card & Apple or Google Pay ready for mobile payments
Free access to FreeAgent accounting software
Bank online, via the app or in-person at NatWest & Post Office branches
Requires at least one of the party to be an existing NatWest customer
FSCS protected deposits, up to £85,000
Friendly UK customer support with 24/7 messaging

Website Read our in-depth NatWest review

Virgin Money Charities Choice Account

Free day-to-day banking for registered charities with annual turnover less than £1 million
Other accounts available for unregistered charities, clubs & societies
Enjoy unlimited free cash deposits & withdrawals
Free debit card transactions with 0.35% cashback
Apple Pay & Google Pay ready
More than 130 branches across the UK
Multiple charity saving accounts available, up to 4.55% AER interest
24/7 online & mobile management
Offers deposit protection up to £85,000 with the FSCS
Friendly UK-based customer support team

Website Read our in-depth Virgin Money review

Lloyds Treasurer's Account

Available to non-profits; charities, parish councils, churches, clubs or societies
Free day-to-day banking for those with turnover less than £50,000 per year
Have up to two signatories who can access the account
Manage the account 24/7 online or by phone
Cash & cheque management is free, whether depositing or withdrawing
Presentation cheques available for large donations or prizes
Improve your digital skills with the Lloyds Bank Academy training
After application it takes around four weeks to open
Deposits are protected with the FSCS, guaranteed up to £85k
Experienced UK-based support team

Website Read our in-depth Lloyds Bank review

Royal Bank of Scotland Community Bank Account

Everyday account made for charities & non-profit organisations
No monthly fees when annual turnover is less than £100,000
Free transfers, card payments, cash & cheque services
Authorise up to four individuals as signatories
Comes with contactless debit card & Apple or Google Pay ready for mobile payments
Free access to FreeAgent accounting software
Bank online, via the app or in-person at RBS & Post Office branches
Requires at least one of the party to be an existing RBS customer
FSCS protected deposits, up to £85,000
Friendly UK customer support with 24/7 messaging

Website Read our in-depth Royal Bank of Scotland review

Bank of Scotland Treasurer's Account

Available to non-profits; charities, parish councils, churches, clubs or societies
Free day-to-day banking for those with turnover less than £50,000 per year
Additional signatory access available
Manage the account 24/7 online or by phone
Cash & cheque management is free, whether depositing or withdrawing
Presentation cheques available for large donations or prizes
Guidance & support available from dedicated Business Management Team
After application it takes around four weeks to open
Deposits are protected with the FSCS, guaranteed up to £85k
Experienced UK-based support team

Website Read our in-depth Bank of Scotland review

Barclays Charity & Impact Account

Account for registered & excepted charities or community groups that turnover less than £100k
Free everyday banking including cheques, cash management & coin exchange
Offers cash collection from G4S, starting at £15 + VAT
Appoint a maximum of three account operators
Bank in-branch, over the phone or whenever, wherever with online banking
Grow your online skills with Digital Eagles training
Take donations or payments online, by phone or fac-to-face with Barclaycard
Offers full FSCS protection up to £85,000
Friendly UK customer support available Monday to Friday

Website Read our in-depth Barclays review

Santander Treasurer's Current Account

Free banking for clubs, societies & charities that turnover less than £250k per year
Deposit or withdraw cash & cheques for free, service available at Post Office branches too
In-branch, phone & 24/7 banking online or via mobile app
Set up & manage text or email alerts
Have up to three signatories & you can nominate other people to manage the account
There are more than 450 branches across the UK
Benefits from FSCS deposit protection
Friendly UK-based customer support team
Awarded Moneyfacts Best Business Current Account Provider & Business Bank of the Year 2023

Website Read our in-depth Santander review

HSBC Charitable Bank Account

Available to established not-for-profit organisations with charitable purposes
Can have a maximum annual turnover up to £2 million
Charges a monthly management fee of £5
Cash & cheque deposits cost 40p per credit, plus 0.40% of value for cash in
Bulk deposits are charged at 30p, plus 0.35% of cash value & 25p per bulk cheque
Account can be accessed by up to four significant peoples
Free card & online payments (via Business Internet Banking)
Bank 24/7 online or in-branch at HSBC or any Post Office
Offers deposit protection up to £85,000 with the FSCS
Experienced UK-based support team

Website Read our in-depth HSBC review

Reliance Bank Charity Current Account

Account for registered charities that turnover more than £250,000 annually
Monthly service fee charged at £5
Cash & cheques paid in at NatWest or RBS branches cost 80p per £100
Card payments & cash withdrawals are charged 25p each
Instant access & notice savings accounts are available
24/7 online access with internet banking
Business debit card & chequebook included
Covered by the FSCS, protecting deposits up to £85,000
Official bank for The Salvation Army

Website Read our in-depth Reliance Bank review

Danske Charity Account

Available to registered charities with an existing Danske relationship
Charges a monthly fee of £2.50 with free access to Danske District, their online banking platform
Cash deposits charge a fee of 20p per £100 paid in
While cash paid out at the counter, or exchanged, costs 66p per £100
ATM withdrawals are free, unless the machine states otherwise
Cheques are charged at 41p per item
Services available at Danske & Post Office Branches
Account can be managed 24/7 online & through the District app
Protected by the FSCS for deposits up to £85,000
Customer support available by phone or online chat

Website Read our in-depth Danske Bank review

What is the best bank account for a charity?

Best charity bank account overall: The Co-operative Community Directplus · Free
Best free charity bank account: Metro Community Account · Free
Best for cash & cheques: CAF Cash Account · Free
Best for cashless transactions: Zempler Business Bank Account · From £0
Best for multiple currencies: Equals Money Business Account · Free
Best for high turnover: Unity Trust Business Current Account · £6

What are charity bank accounts?

Charity bank accounts are not too dissimilar from business bank accounts.

They offer many of the same features but are ultimately more geared towards benefiting charitable and not-for-profit organisations.

The main differences between standard business accounts and those designed for charities is that they usually offer lower fees and help make applying for tax exemptions and Gift Aid easier.

How much do charity bank accounts cost?

This varies depending on the bank but most offer standard banking services for a small monthly fee, and some even offer them for free.

Aside from the account holding fee, you are likely to be charged for automated transactions, such as online transfers, and manual transactions, like cash and cheque services.

Who can get a charity bank account?

The eligibility criteria for each charity account will vary from bank to bank, but in general those that can open a charity bank are organisations that have a charitable cause, such as:

Charities registered with the Charity Commission
Societies, clubs or community-interest groups
Community amateur sports clubs (CASC)
Co-operatives
Places of worship

Some banks do accept unregistered charities since to register as a charity, with the Charity Commission, you need to have at least £5,000 in income.

How to open a charity bank account

You should be able to apply to open a charity bank account online, over the phone, by post or in-person, depending on the bank.

The documents needed may vary too but most banks will require the following:

The charity's registration number & proof of status
The charity's trust deeds
The charity's financial details, such as turnover
Details of all trustees or signatories, including name, address & involvement

Frequently asked questions

It's not uncommon to have questions when looking in to business banking, especially for the first time. These are some of the most relevant questions for business bank accounts:

Not all are but some do offer free transactions, within limits, and/or no monthly fees for holding the account.

You can, but this isn't encouraged because it can get confusing mixing your personal money with the charity's.

All of the accounts listed above are covered by the Financial Services Compensation Scheme (FSCS), which means the charity's money is protected, should anything happen to the bank.

The FSCS protects up to £85,000 per individual so the more signatories on the charity account, the more money is protected.

Yes, if your charity has less than 50 employees then it is eligible for the Current Account Switch Service. Even so, larger charities can ask their new prospective provider to arrange the switching process.

Yes, there are a number of banks that offer overdrafts on their charity accounts.

Gift Aid is a scheme available to charitable non-profits that allows them to claim 25p from HMRC for every £1 donation.

No, charities do not need to pay tax on any interest they earned from their charity bank account.

Compare Charity Bank Accounts