English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

we have 2 people who are willing and have all their ids in order plus account will be open for donations

2007-03-05 02:20:42 · 2 answers · asked by thomas m 1 in Business & Finance Personal Finance

2 answers

Do you mean that you are a charitable organisation and want to open a bank account?
If so, I recommend you have at least 3 people (4 is better)authorised to sign cheques and that any 2 may sign a cheque. That way, you have people in reserve if one of the signatories is away or ill.
Choose your bank carefully. Some banks do 'community accounts' with no charges...choose one of these. On no account open an account which is going to charge you - this is not good use of charitable funds. I always use CafBank (see their website)...v reliable and efficient and they pay interest on current accounts.
Once you have chosen your bank, get an application form and fill it in. The bank will tell you what ID they need for your signatories. They may also want to see a copy of your constitution.
As part of your financial monitoring, you need to check regularly that the bank is s till offereing a good deal.

2007-03-05 02:46:48 · answer #1 · answered by fengirl2 7 · 0 0

The procedure is: (in England & Wales)
Convene a Committee Meeting of the Club or Organisation.
Place a motion on the agenda - 'This motion is to establish a bank account in the name of xyz with the following to act as signatories abc def hij' etc.
You then visit the bank and ask them to open an account.
You will require the following documents in respect of each signatory:
1. Evidence of Identity (Driving Licence/Passport)
2. Two pieces of Evidence of Address (Personal)
3. The Rules of the Organisation.

The bank will ask you to complete an Application Form and you will have to wait for them to reply in either affirmative or negative terms.

It will be a Club or Society Account and you will be able to pay in at any of the bank's branches but in order to withdraw up to three authorised signatories will have to do the transaction. Whether that is in person is up to the bank.

Sounds complicated but believe me, necessary.

2007-03-05 19:45:23 · answer #2 · answered by MANCHESTER UK 5 · 0 0

fedest.com, questions and answers