Opening a bank account
Running any group costs money, and it’s a good idea to start thinking at the beginning about where to get it from and how to look after it. As soon as your group has some money, it is a good idea to give someone responsibility for keeping track of it (the Treasurer).
Having a group bank account is the best way to make sure the group’s money is kept safely. Most high street banks offer special accounts for community groups. You will need to have at least two members of the group willing to act as signatories. Funders usually require (and it’s a sensible precaution in any case) that you have a bank account where each cheque has to be signed by two people.
Most banks and building societies offer special accounts for small voluntary and community organisations and give free banking as long as your account is in credit. This sheet provides advice about choosing a bank and information about how to open an account. It also includes a list of community bank accounts.
Information and tips to help your whole committee take responsibility for looking after your group’s money.
The services listed below are not provided by the Resource Centre. These are websites and services we feel are particularly useful for small groups in Brighton & Hove, and which are not easy to find by searching the internet.Other services you might find useful