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SAVINGS

Ethical Easy Access Charity, Trust and Unincorporated Associations Account

Your eligible deposits with Charity Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. View and download the Charity Bank Deposit Guarantee Scheme: Information Sheet here. For further information visit www.fscs.org.uk.

Key benefits

Access

Open an account with £10,000.

Easy Access

Giving you the flexibility you need.

Social Impact

Your money will be used to support charities and social enterprises.

Summary Box

Payment of interest:

Interest is paid Gross i.e. without tax deducted.

Minimum initial deposit:

£10,000 (if your balance falls below £10,000 we’ll pay you 0.10% Gross/AER).

Maximum deposit:

£500,000

Withdrawals:

You can access your savings via CHAPS (fee applies) or Faster Payment to your Nominated Account when you email us a withdrawal notification form signed in accordance with your mandate. As an additional security measure we will follow up receipt of the withdrawal notification form with a call back to an authorised signatory to ask for characters from the memorable word linked to your account. There is a limit of one withdrawal request per day and a maximum daily withdrawal limit of £125,000.

Cut-off times for serving notice to withdraw:

Signed notifications must be received by 11.30 a.m. on a business day; instructions received after these times will be processed next business day.

Paying money in:

Initial deposit(s) can be made by cheque or electronic transfer within 14 days of notification account opened. Within the funding period you may fund your account with one or multiple deposits from your nominated account up to a maximum account balance of £500,000. If your account is not funded to the minimum account balance of £10,000 within this period it will be closed, and any funds returned to you. Subsequent payments are supported by cheque, electronic transfer, direct debit or standing order from your nominated account.

Number of account holders:

Unlimited.

How we calculate interest:

Interest is calculated daily and added to your account quarterly in March, June, September and December and on closure of your account. There is no bonus interest payable.

What would the estimated balance be after 12 months based on a £10,000 deposit?

Based on an interest rate of 3.22% gross, the balance on a £10,000 deposit after 12 months would be £10,325.91. This illustrative example assumes no withdrawals and no changes to the managed interest rate over the period. (The illustrative example does not take into account the individual circumstances of a customer).

Can Charity Bank change the interest rate?

The interest rate is managed and may be altered in accordance with Section 9 Changes to interest rates of our Terms for organisations (Ethical Easy Access Account).

Managing your account:

All accounts are operated by post. We can answer any questions directly by email or over the phone. Currently we do not offer online services once your account is open.

Micro Rainbow

London

“Micro Rainbow has helped me enormously. When I first came here, I thought, ‘Oh my god, this is an amazing place.’ The house is new and it’s very beautiful. I have a room, a double bed, a closet. It’s my safe place. When I’m there, I’m very comfortable; when I go out, all I want is to go home.”

Read Story

Extern Homes

Newtownabbey, Northern Ireland

“To get to where we are today, with 10 properties, was only achievable with the loan arrangement with Charity Bank. It’s a bank with a purpose. You could see that in the relationships we had with the people at Charity Bank.”

Read Story

Discuss a savings account

Talk to our UK based Savings Team about your needs.

[email protected]
01732 441944

Savings for good

Our ethical savings accounts give you the ability to help create lasting social change. Explore our full range of ethical savings accounts to find right account for you.

View Charities, Clubs & Trusts Savings Accounts

Frequently Asked Questions

Savings Document Library

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Savings Document Library