Bank Account for a club

Bank Account for a club

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P-Jay

Original Poster:

10,738 posts

197 months

Wednesday 15th December 2010
quotequote all
It should be sooo simple...

I need to set up a bank account for my BNI group, I think in banking terms it's known as a club.
I contacted one of the big four and was passed a 15 page application for a business account and a 10 page version for a debit card requesting cash-flow projection, break even point etc - I don't really mind filling in the forms, but it's asking for a lot of personal information, the small print also shows I'll be credit scored and details recorded which I'm, not happy about.

I don't really want my personal finances mixed in with the BNI group, especially as I was be handing over the role in 6 months and whilst it's highly unlikely anyone could screw up badly enough to run up an significant debt I wouldn't want a bunch on 1's on my credit file because my replacement forgot to bank cash before they wrote cheques etc - my file is delicate enough after 10 months of unemployment due to redundancy and ill health.
Does anyone know of an account that Scout Groups et al could use that wouldn’t need someone to personally stand for it??

m444ttb

3,163 posts

235 months

Wednesday 15th December 2010
quotequote all
I use a Nationwide Treasurers' Trust passbook account. It's a savings product really but given my club simply pays in regular sums and keeps a small surplus it does the job.

AndyAudi

3,196 posts

228 months

Thursday 16th December 2010
quotequote all
"Treasurers Account" is what you need.

Most branches will deal with them regularly and know what yo need to fill in.
No need for projections/plans etc (it is not operating as a business)

Although they may want to see club rules, articles of association etc.

P-Jay

Original Poster:

10,738 posts

197 months

Thursday 16th December 2010
quotequote all
Thanks both, I'll try again!