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Bank account for community group ?

  • 03-11-2012 10:24pm
    #1
    tigerlily01
    Registered Users, Registered Users 2 Posts: 51 ✭✭


    Hi Folks

    Can someone please advice me on what type of bank account is best to open up for a small community group ? Would it be a current account in the group name ? and can anyone recomend a good bank to do it with ??

    We would just have small amounts from fund raising and sponsorship and our bills would mainly be utitilies etc

    All advice greatly welcome !!


Comments

  • #2
    Black Swan
    Moderators, Category Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 47,532 CMod ✭✭✭✭Black Swan


    MOD COMMENT:
    Please be advised that Irish Economy is not the best place for this OP topic. It is being moved to Banking. It will be moved locked so that the Banking mods may review it for appropriateness.


  • #3
    BuffyBot
    Registered Users, Registered Users 2 Posts: 24,924 ✭✭✭✭BuffyBot


    Re-opened.


  • #4
    StillWaters
    Closed Accounts Posts: 1,799 ✭✭✭StillWaters


    EBS certainly used to offer a club account. The CU would be good also as there are no charges.


  • #5
    Mr E
    Registered Users, Registered Users 2 Posts: 55,571 ✭✭✭✭Mr E


    We have a bank account for our residents committee. It's in the name of the residents committee (rather than an individual, since committee members come and go), and the chairman and treasurer are signatories. Very straight forward to set up. It's with Bank of Ireland.


  • #6
    Citygirl1
    Registered Users, Registered Users 2 Posts: 301 ✭✭Citygirl1


    Hi Tigerlilly - Permanent TSB, Ulster Bank and AIB all offer club/society bank accounts, although they offer a pretty basic level of service.

    One think I would say is, don't go with PermanentTSB. I took over as treasurer of a club recently, and we needed to change the signatories on the account. The level of red tape and work imposed by PTSB was truely astonishing, and very frustraging for a very small, low risk account. The requirements also changed several times, depending on who you spoke to. :mad: Multi-million euro investments would be managed more easily!

    Additionally, On speaking to different people within PTSB, both on the phone and at the branch, every single person offers different information on the same topic.
    eg. Two months ago I was advised both on the phone and at the branch that a club could not make use of internet banking. Now, I've just been told on the phone that we can, via Business 24, and this was always the case. I've been advised to ring back tomorrow, but I'm expecting a different story again at that point.


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