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+--- Thread: Chess Club - bank account? (/thread-2327.html)
Chess Club - bank account? - Crawford Macnab - 07-11-2024
Hi,
Do any of your chess clubs use a bank that offers a free account with basic online facilities?
If so I'd be interested if you could share the details.
We have used TSB for a long time but they are not interested in allowing us to move to an account with online facilities. (we are stuck with using cheques)
Our treasurer was recently assured by HSBC that it was possible to have a free bank account for our club, only to find when starting the set up process that there was a £5 monthly administration fee. Perhaps there are no free options available and clubs are paying a fee?
Thanks,
Crawford.
RE: Chess Club - bank account? - David Clayton - 13-11-2024
Royal Bank of Scotland (and I believe NatWest as part of the same group) are imposing charges on organisations that were previously free. They are being moved to their 'Community Accounts'.
However, I believe that if you are a customer with these banks and if you are a named person on the organisation bank account, your organisation will get free banking.
Currently, NatWest are offering £180 if you transfer your current account to them.
RE: Chess Club - bank account? - Glynis Grant - 21-11-2024
For SNCL we were advised to close the Treasurers account, as they were being phased out. and open a joint current account (in our case Ian Robertson and I deal with the finances)
This has worked out very well for the following reasons
a) easy for clubs to use bank transfer details to pay entry fee
b) both Ian and I have access to ATM to get petty cash for arbiters lunches etc
c) I have digital banking on my phone so can easily check up on transactions, statements etc.
d) I am able to use bank transfer to pay venue fees and arbiters wages
e) There is no need for me to worry about finding a parking space to visit the bank, except for when I have to put cash or cheques in at the beginning of the year)
I would thoroughly recommend this as SNCL can ask me for details about our finances and, by using my phone app, can see instantly what has happened to their money