The challenge some charities face with banking has been a cause of much concern in recent years. Charities are facing a variety of issues, from branch closures and difficulties opening an account to problems with ID verification, introduction of fees and the freezing of accounts without notice.

We were concerned enough to write an open letter to the UK’s high street banks, jointly with other UK charity regulators, in November 2023.

A common complaint we hear is that bank staff don’t understand charities and that bank systems are not designed with the needs of charities in mind. But it is also important for charities to understand what banks need from them and to appreciate the regulatory demands banks are subject to as they seek to protect charitable assets from fraud or misuse.

The Charity Finance Group (itself a charity) has recently published a new guide to help charities to communicate better with their bank including step-by-step advice on raising and resolving concerns. The guide is a practical toolkit, containing background information on the common terms used by banks and sample emails for different types of communication.

Designed for small to medium-sized charities, the guide aims to support charities that need to raise an issue or concern with their banks.