Money Box

Charity Bank Accounts and Attendance Allowance

Jan 4, 2025
Claire Mills, Deputy CEO of Charity Finance Group, discusses the alarming banking issues faced by charities, with 90% reporting problems over the past two years. She reveals that many struggle to change signatories on bank accounts and highlights the emotional toll these challenges take. The conversation also shifts to the recent Scottish budget, focusing on income tax updates and the two-child benefit cap. Finally, they provide essential insights on Attendance Allowance for pensioners and how to avoid duplicate insurance coverage.
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ANECDOTE

Roma Project's Banking Crisis

  • The Roma Project, a West Midlands charity, faced a banking crisis after their founder Bernie passed away.
  • He was the sole signatory on their account, leaving them unable to pay staff or rent.
INSIGHT

Common Charity Banking Issues

  • Many charities experience banking issues, including frozen accounts and difficulty changing signatories.
  • This is a common problem, affecting numerous charities and hindering their operations.
ADVICE

Recommendations for Banks

  • Banks should improve their understanding of charity governance and operating systems.
  • Dedicated customer service teams with specialist knowledge could better assist charities with their unique needs.
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