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Clubs and Charities Account
If you’re looking for a flexible savings account for your association, you’ve just found it;whether you are looking for instant access, a better way to manage your association's money or to invest a lump sum.
Our Clubs and Charities account is designed exclusively for unincorporated associations^. Limited Companies and Partnerships are unable to open this account. It comes with variable interest rates that reward your association for saving plus the added bonus of no charges when your association wants to make withdrawals.
| Summary Box Key Product Information for our Savings Account |
|
|---|---|
| Account Name | Clubs and Charities Account |
| Interest Rates (AERs) | The Interest rates payable are variable. |
| Tax Status | Interest is paid net*. Interest can be paid gross* subject to the organisation being eligible under HM Revenue & Customs guidelines**. |
| Condition for bonus payment | No bonus payment exist for this account |
| Withdrawal arrangements |
There are no restrictions on withdrawals. When making a withdrawal, at least two named signatories must sign the withdrawal form |
| Access | Branch and by post |
Features & Benefits
- Minimum balance of £100
- Maximum balance of £1,000,000
- Interest is paid annually on the first working day after 1st January into this Account
- Choose between 2 and 4 named people on the account with at least 2 people authorising withdrawals
- Passbook based account
- The flexibility to make deposits or withdrawals any time
- Start earning interest as soon as you open your account
- Interest can be paid gross* if you are eligible under HM Revenue & Customs guidelines**.
*For an explanation of terms such as AER, Gross and Net, please see our glossary 
.
^Unincorporated status is usually chosen when a number of individuals agree to come together for a common purpose and are governed by their own constitution. A management committee is elected to run the organisation on behalf of the members. The voluntary management committee have unlimited personal liability.
**We will pay interest gross* where the purpose of the account falls within the criteria outlined by HM Revenue & Customs, otherwise interest will be paid net*. Your local tax office will be able to give you further advice on this.
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