Setting Up Your Group’s Bank Account

Once your organisation has chosen a legal structure and sorted its governing documents, you’re ready to open a bank account. Here’s what to keep in mind:

Things to Know Before You Start 

  • Pick the right account 
    You’ll need a bank account designed for non-profit or community groups — not a personal account. 

  • Give it time 
    Opening an organisational account can take up to 8 weeks, so plan ahead. 

  • Keep names consistent 
    The name on your bank account must match the name on your governing documents exactly. Any mismatch can cause delays — especially when applying for funding. 

  • Explore your options 
    Look into accounts from local credit unions, online banks, and high street banks. Choose one that suits your group’s needs. 

  • Stay updated 
    Banks often change their products and services. Check their websites for the latest info before you apply. 

Need a Starting Point? 

While Community Wealth Builder doesn’t endorse specific banks, we’ve put together a list of options to help you get going:

Co-op Community Direct Plus Account

Lloyds Bank Treasurers Account

NatWest Community Bank Account

Metro Community Current Account

Bank of Scotland Treasurers Account

Bank of Scotland Community Account

HSBC Charitable Account

Virgin Clubs and Societies

Credit Union – Community First Community Bank – Community Group Savings Account