Savings For Good

Ethical Easy Access Account

Transform your money into tools for social change.

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 £5,000.

Social Impact

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

Easy Access

Giving you the flexibility you need.

Summary Box

Payment of interest (personal account):

Interest will be paid gross, which means interest is paid to you without tax being deducted from it. If the total amount of interest you earn exceeds your Personal Savings Allowance then you may have to pay tax directly to HM Revenue and Customs. For more information please see the latest Government information, or visit the HMRC website or call them on 0300 200 3310.

Minimum initial deposit:

£5,000 (if your balance falls below £5,000 we’ll pay you 0.10% Gross/AER).

Maximum deposit:

£85,000.

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.

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 £85,000. If your account is not funded to the minimum account balance of £5,000 within this period it will be closed, and any funds returned to you. Subsequent payments are supported by cheque, electronic transfer or standing order from your nominated account.

Number of account holders:

Up to two for personal accounts.

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 deposits of £1,000 and £25,000?

Based on an interest rate of 3.22% gross, the balance on a £5,000 deposit after 12 months would be £5,162.95. 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 personal savers (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.

Adrenaline Alley

Corby, England

“Without the Charity Bank loan, we would not have been able to grow and develop in the same way. Owning the site has given us the freedom to quickly adapt to trends, which is vital within the urban sports industry. We’ve also been able to make some significant improvements, such as building a two-storey café, diversifying our revenue income and ensuring sustainability.”

Read Story

Dundee Women’s Aid

Dundee, Scotland

“The loans team at Charity Bank were there for us every step of the way. We could call them by Teams or send an email and they’d respond really quickly; our daft questions didn’t faze them!”

Read Story

Strength and Learning Through Horses

Barnet, England

“We tried getting in touch with quite a few people; Charity Bank was the only one that was genuinely helpful... Everyone we've dealt with at Charity Bank has basically said, ‘Yes, how can we help you?’"

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 Personal Savings Accounts

Frequently Asked Questions

Savings Document Library

For the latest Charity Bank savings accounts documents, please click on the button below.

Savings Document Library