Charity Current Accounts...

The media are often telling us about the exorbitant charges banks make to run an account.

Here at Reliance Bank we will give you a bespoke tariff based on the services you require, making sure you are not paying for services you do not use.

For charities with an annual turnover of less than £500,000, we offer you FREE banking if the account is operated in credit and there are no more than 25 entries, on average, per month, and cash handled does not exceed £1,000 per week.

For charities with an annual turnover of more than £500,000 we will review usage and likely transaction costs with you to agree FREE banking whilst in credit or a bespoke tariff.

For a general indication of a tariff for your church/charity account, please contact us on 020 7398 5440 with the average monthly figures for the items listed below:

• Number of cheques issued.
• Number of cheques paid into your account.
• Amount of cash paid into your account.
• Number of credits from other income sources paid into your account and the average balance of your account.
• Number of direct debits/standing orders paid from your account.

We also offer charity savings accounts:

Instant Access – a savings account that combines tiered interest rates, interest paid quarterly. You can open this account with as little as £1, and it is ideal if you want regular access to your money without penalties.

Fixed Term Deposit  - Credit interest is paid quarterly and payments can be made into the account by standing order.

Fixed Term Deposit - this account offers a fixed interest rate guaranteed for the term of the deposit. We offer a variety of terms from 1 month to 12 months. Interest is paid on maturity of the deposit and a minimum cleared balance of £50,000 is required to open this account.