Banking for charitable organisations and music groups

The Charity Commission is actively lobbying to improve banking services for the charity sector by asking for your input in the Charity Finance Banking Survey.

There has been a lot of press coverage recently about banking for the charity sector, and we know from speaking to members that finding good quality bank accounts and services is becoming increasingly difficult. 

We have heard of long standing bank accounts being closed at short notice, high street banks not taking new customers, customer service lines never answered and a lottery on the quality of the advice when they are. 

The charity sector is working hard lobbying on behalf of all, and there is hope on the horizon. 

The Charity Commission wrote an open letter to bank Chief Executives at the end of last year and the banking sector's initial response has been positive. 

Making Music has contributed to various sector campaigns on behalf of members, but we all need to keep the pressure up. Charity Finance magazine's annual Charity Banking Survey is open and due to close on 28 February. Large scale data will be a vital tool in bringing about change so if you can spare 20 minutes, please complete the survey on your charity's behalf. Submissions are confidential and data will be reported on an aggregated basis (plus you could win a £100 voucher).

Complete the survey now

As charity trustees looking at the money is paramount. Banks should not just offer accounts, they should offer good ones that support the work of your charity. Secure online management, dual authorisation of online payments, paying in of cheques digitally, custom service that values your business, and associated saving accounts to make the most of your charity’s money, are some of the features charities should have access to.

For more information about The Charity Commission, visit the Gov UK website.