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Bank Account for Community Group

  • 07-11-2019 11:16pm
    #1
    IsThisOneFree
    Registered Users, Registered Users 2 Posts: 254 ✭✭


    I know there's been some posts on this in the past, but they all seem pretty old. I've just become treasurer of a small community group. The group is mainly charged with maintenance of the village, and does one round of fund raising a year (in addition to a small grant).

    Currently we have a current account with Ulster Bank along with a cheque book. Are there any banks offering fee free current accounts for community groups such as ours ? Or if not, what are our best options ? Personally I'd probably abolish the cheque book and use bank transfer instead - but the chairperson is also a signatory on the account and doesn't seem to be willing to abolish the cheque book just yet.

    Thanks in advance
    Tagged:


Comments

  • #2
    WonderingJu
    Registered Users, Registered Users 2 Posts: 35 ✭WonderingJu


    Did you find a good solution? I am searching for the same thing for a non-profit community group. The fact that the current bank account is a joint account in two committee member's names is causing all kinds of problems. We need an account that features the name of our organisation, instead.


  • #3
    IsThisOneFree
    Registered Users, Registered Users 2 Posts: 254 ✭✭IsThisOneFree


    Over time I realized that UB were charging us for everything ... lodging money, withdrawing money, writing cheques, all ontop of the 15 euro they were charging us per quarter. When I approached them about this, they said that they don't offer fee free banking for community groups, so when I showed the comittee how much the account was costing us, they agreed to get rid of it.

    we're in the process of opening up a "Community Group" Account with our local Credit Union. They don't have any fees currently, and while we won't have a cheque book, it's easy for us to pop in and get a draft when needed. Even if they do start charging for drafts, it'd still be way cheaper than what we're paying UB currently. Most Credit Union's now have limits on how much you can have in your account, but we'll never be anywhere near that limit.


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