How to choose the best charity account

Probably the first and most important consideration is how much access your organisation will need to the money. Will it be needed at a set date? Or will you potentially need to access funds at short or no notice? As with regular savings accounts, the longer your charity or club can afford to not have access to its money, the higher the rate of interest you may be able to earn.



Hampshire Trust Bank Logo
Hampshire Trust Bank 3 Year Business Bond (Issue 16) FSCS logo
FSCS logo
AER
2.10%
Notice / Term
3 Year Bond
Deposit
£5,000
Interest Paid
Anniversary
Go To Provider's Site
Rates
Access
Application Criteria
Information
Additional Information

Rates

Rate 2.10% paid at £5K
AER 2.10% paid at £5K
Interest Payment Interest must be compounded
Min Opening Amount £5,000
Maximum Investment £750,000
Introductory Bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note N/A
Further Additions Allowed

Application Criteria

Minimum Turnover N/A
Maximum Turnover N/A
Available To
Limited Company
Limited Liability Partnership
Not for profit organization
Partnership
Public Limited Company
Sole Trader

Information

Min Age N/A
Max Age N/A
Taxation -

Additional Information

N/A
Hampshire Trust Bank Logo
Hampshire Trust Bank 2 Year Business Bond (Issue 24) FSCS logo
FSCS logo
AER
2.00%
Notice / Term
2 Year Bond
Deposit
£5,000
Interest Paid
Anniversary
Go To Provider's Site
Rates
Access
Application Criteria
Information
Additional Information

Rates

Rate 2.00% paid at £5K
AER 2.00% paid at £5K
Interest Payment Interest must be compounded
Min Opening Amount £5,000
Maximum Investment £750,000
Introductory Bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note N/A
Further Additions Allowed

Application Criteria

Minimum Turnover N/A
Maximum Turnover N/A
Available To
Limited Company
Limited Liability Partnership
Not for profit organization
Partnership
Public Limited Company
Sole Trader

Information

Min Age N/A
Max Age N/A
Taxation -

Additional Information

N/A
Hampshire Trust Bank Logo
Hampshire Trust Bank 18 Month Business Bond (Issue 2) FSCS logo
FSCS logo
AER
1.95%
Notice / Term
18 Month Bond
Deposit
£5,000
Interest Paid
Anniversary
Go To Provider's Site
Rates
Access
Application Criteria
Information
Additional Information

Rates

Rate 1.95% paid at £5K
AER 1.95% paid at £5K
Interest Payment Interest must be compounded
Min Opening Amount £5,000
Maximum Investment £750,000
Introductory Bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note N/A
Further Additions Allowed

Application Criteria

Minimum Turnover N/A
Maximum Turnover N/A
Available To
Limited Company
Limited Liability Partnership
Not for profit organization
Partnership
Public Limited Company
Sole Trader

Information

Min Age N/A
Max Age N/A
Taxation -

Additional Information

N/A
Hampshire Trust Bank Logo
Hampshire Trust Bank 1 Year Business Bond (Issue 28) FSCS logo
FSCS logo
AER
1.85%
Notice / Term
1 Year Bond
Deposit
£5,000
Interest Paid
On Maturity
Go To Provider's Site
Rates
Access
Application Criteria
Information
Additional Information

Rates

Rate 1.85% paid at £5K
AER 1.85% paid at £5K
Interest Payment Interest must be compounded
Min Opening Amount £5,000
Maximum Investment £750,000
Introductory Bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note N/A
Further Additions Allowed

Application Criteria

Minimum Turnover N/A
Maximum Turnover N/A
Available To
Limited Company
Limited Liability Partnership
Not for profit organization
Partnership
Public Limited Company
Sole Trader

Information

Min Age N/A
Max Age N/A
Taxation -

Additional Information

N/A
Redwood Bank Logo
Redwood Bank 95 Day Business Savings Account (Issue 4) FSCS logo
FSCS logo
AER
1.75%
Notice / Term
95 Day
Deposit
£10,000
Interest Paid
Anniversary
Go To Provider's Site
Rates
Access
Application Criteria
Information
Additional Information

Rates

Rate 1.75% paid at £10K
AER 1.75% paid at £10K
Interest Payment Interest must be compounded
Min Opening Amount £10,000
Maximum Investment £1,000,000
Introductory Bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note N/A
Further Additions Allowed

Application Criteria

Minimum Turnover N/A
Maximum Turnover N/A
Available To
Limited Company
Limited Liability Partnership
Not for profit organization
Partnership
Public Limited Company
Sole Trader

Information

Min Age N/A
Max Age N/A
Taxation -

Additional Information

N/A
Redwood Bank Logo
Redwood Bank 95 Day Business Savings Account (Issue 4) FSCS logo
FSCS logo
AER
1.75%
Notice / Term
95 Day
Deposit
£10,000
Interest Paid
Monthly
Go To Provider's Site
Rates
Access
Application Criteria
Information
Additional Information

Rates

Rate 1.74% paid at £10K
AER 1.75% paid at £10K
Interest Payment Interest must be compounded
Min Opening Amount £10,000
Maximum Investment £1,000,000
Introductory Bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note N/A
Further Additions Allowed

Application Criteria

Minimum Turnover N/A
Maximum Turnover N/A
Available To
Limited Company
Limited Liability Partnership
Not for profit organization
Partnership
Public Limited Company
Sole Trader

Information

Min Age N/A
Max Age N/A
Taxation -

Additional Information

N/A
Redwood Bank Logo
Redwood Bank 35 Day Business Savings Account (Issue 3) FSCS logo
FSCS logo
AER
1.60%
Notice / Term
35 Day
Deposit
£10,000
Interest Paid
Anniversary
Go To Provider's Site
Rates
Access
Application Criteria
Information
Additional Information

Rates

Rate 1.60% paid at £10K
AER 1.60% paid at £10K
Interest Payment Interest must be compounded
Min Opening Amount £10,000
Maximum Investment £1,000,000
Introductory Bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note N/A
Further Additions Allowed

Application Criteria

Minimum Turnover N/A
Maximum Turnover N/A
Available To
Limited Company
Limited Liability Partnership
Not for profit organization
Partnership
Public Limited Company
Sole Trader

Information

Min Age N/A
Max Age N/A
Taxation -

Additional Information

N/A
Redwood Bank Logo
Redwood Bank 35 Day Business Savings Account (Issue 3) FSCS logo
FSCS logo
AER
1.60%
Notice / Term
35 Day
Deposit
£10,000
Interest Paid
Monthly
Go To Provider's Site
Rates
Access
Application Criteria
Information
Additional Information

Rates

Rate 1.59% paid at £10K
AER 1.60% paid at £10K
Interest Payment Interest must be compounded
Min Opening Amount £10,000
Maximum Investment £1,000,000
Introductory Bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note N/A
Further Additions Allowed

Application Criteria

Minimum Turnover N/A
Maximum Turnover N/A
Available To
Limited Company
Limited Liability Partnership
Not for profit organization
Partnership
Public Limited Company
Sole Trader

Information

Min Age N/A
Max Age N/A
Taxation -

Additional Information

N/A
Hampshire Trust Bank Logo
Hampshire Trust Bank 90 Day Business Notice (Issue 13) FSCS logo
FSCS logo
AER
1.55%
Notice / Term
90 Day
Deposit
£5,000
Interest Paid
Anniversary
Go To Provider's Site
Rates
Access
Application Criteria
Information
Additional Information

Rates

Rate 1.55% paid at £5K
AER 1.55% paid at £5K
Interest Payment Interest must be compounded
Min Opening Amount £5,000
Maximum Investment £750,000
Introductory Bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note N/A
Further Additions Allowed

Application Criteria

Minimum Turnover N/A
Maximum Turnover N/A
Available To
Limited Company
Limited Liability Partnership
Not for profit organization
Partnership
Public Limited Company
Sole Trader

Information

Min Age N/A
Max Age N/A
Taxation -

Additional Information

N/A
Hampshire Trust Bank Logo
Hampshire Trust Bank 60 Day Business Notice (Issue 2) FSCS logo
FSCS logo
AER
1.45%
Notice / Term
60 Day
Deposit
£5,000
Interest Paid
Anniversary
Go To Provider's Site
Rates
Access
Application Criteria
Information
Additional Information

Rates

Rate 1.45% paid at £5K
AER 1.45% paid at £5K
Interest Payment Interest must be compounded
Min Opening Amount £5,000
Maximum Investment £750,000
Introductory Bonus N/A

Access

Withdrawals Allowed
Early Access Allowed
Access Note N/A
Further Additions Allowed

Application Criteria

Minimum Turnover N/A
Maximum Turnover N/A
Available To
Limited Company
Limited Liability Partnership
Not for profit organization
Partnership
Public Limited Company
Sole Trader

Information

Min Age N/A
Max Age N/A
Taxation -

Additional Information

N/A
Note

Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £85,000 per person per institution.

Disclaimer

All rates subject to change without notice. Please check all rates and terms before investing or borrowing.

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Charity and club accounts

nigel woollsey

Nigel Woollsey

Online Writer

At a glance

  • Higher savings balances can earn better rates of interest.
  • Fixed savings bonds and notice accounts can offer higher interest rates for money your charity doesn’t need short term access to.

Charity and club accounts explained

Probably the first and most important consideration is how much access your organisation will need to the money. Will it be needed at a set date? Or will you potentially need to access funds at short or no notice?

As with regular savings accounts, the longer your charity or club can afford to not have access to its money, the higher the rate of interest you may be able to earn.

Interest rates can also be improved with a higher savings balance. Often charity savings accounts offer higher rates, the more money you have invested in the account.

Depositor protection for charities

Charity and club savings accounts may fall under the protection of the FSCS. Whether a charity is eligible for protection under the compensation scheme is not straightforward (even the FSCS’s site can’t give a definitive answer!). FSCS will assess whether a charity is eligible for protection on a case-by-case basis, but most non-financial firms or charities will be covered up to the £85,000 limit.

Moneyfacts tip

Moneyfacts tip nigel woollsey

The FSCS protects the first £85,000 an eligible charity or club has held under a single UK banking licence. Some banks and building societies share a licence, so it’s best to spread money between institutions to make sure it’s protected.

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