Many banks and building societies offer special current accounts for voluntary organisations and charities, and most give free banking if the account is in credit.

Conditions and benefits vary, and can change over time, but we have highlighted the main features of current accounts from institutions that have strong links to the third sector, or who have a significant ‘high street’ presence in Scotland in our

Bank Account Comparison Table

Some things to remember when choosing a current account include:

  • Choose a current account which offers the services your organisation needs, e.g. a local branch, internet banking, direct debits etc.
  • Ask questions about processes – how do you change a signatory, does it take a long time?
  • Be aware of any charges e.g. if you go into an overdraft
  • Ask about interest rates
  • Internet banking is convenient but does not give the security of a cheque payment that requires two signatories. So as to protect against fraud, any internet or card payments should ideally be approved by two people.
  • Some accounts require high minimum deposits, so may be of no use to very small organisations.

Banking for Charities provides key information on banking, including choosing and opening the right bank account, understanding banking charges and fees, and how to switch accounts.  It also sets out key questions to ask banks, and options to help charities navigate the banking environment.