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Bank Accounts

We are sometimes contacted by PCC’s about bank accounts and issues with banks, most noticeably around their Knowing Your Customer (KYC) requirements.

Therefore, we have produced an FAQ which covers some of the key questions PCC’s may find banks asking for. We will look to update this page periodically to cover any further questions raised.

In addition, PCC’s sometimes ask whether we can recommend bank accounts. Unfortunately, we are not specifically regulated to give this advice. However, we have collated a table below of known options available to PCC’s. Please note that this list is not exhaustive and whilst we do our best to ensure accuracy, banks do sometimes change the terms and conditions on their accounts.

Ultimately, this information is to be used as an initial reference point for parishes and we strongly recommend further research and a minuted agreement by the PCC before changing bank accounts.

If you have any further questions or difficulties with your bank, please contact james.south@dioceseofnorwich.org

FAQs

Please contact James South with a copy of the correspondence from the bank for further assistance.

The Parish Resources website has a single sided A4 document that you can share with your bank and this can be downloaded here: Governing Documents of PCCs – Parish Resources

Form 76 is a form to register a building as a place of worship and is not required for PCC’s (as the building will have been used for worship for some time). It may be that the bank asks for alternative verification and if that is the case and you are unsure how to proceed, please contact james.south@dioceseofnorwich.org.

Yes, all of the accounts listed offer the service. However, please consult with them before opening an account as you may need to ensure that the name of the account with your new bank matches with the old account in order for this to work.

If your PCC’s gross annual income is under £100,000 it is likely that you are not registered with the Charity Commission and as such, won’t have a Charity Commission charity number. However, if you claim gift aid, you will have an HMRC Charity Number which they may accept.
To find this, look at your bank statement when the most recent gift aid claim was paid and this reference will be included.

    Identical as same parent companyIdentical as same parent company  
Bank NameBarclaysCooperative BankCAF BankNatwestRBSLloydsBank of ScotlandSantanderVirgin Money
Account TypeCommunity AccountCommunity DirectplusCurrent AccountCommunity Bank AccountCommunity AccountTreasurers AccountTreasurers AccountTreasurers Current AccountCharities Choice Account
Mothertree C02 rating – June 2023 (lower is better)2.3760.328N/A1.2951.2950.7040.7041.7420.517
Free banking limit£100,000£1,000,000N/A£100,000£100,000£50,000£50,000£250,000£1,000,000
Monthly feeNoneNone£5NoneNoneNoneNoneNoneNone
Online banking optionYesYesYesYesYesYesYesYesYes
FSCS registeredYesYesYesYesYesYesYesYesYes
Current account switching serviceYesYesNoYesYesYesYesYesYes
Post office servicesYesYesCheque’s only, cash at HSBCYesYesYesYesYesYes
Restrictions   One applicant needs to have a personal or business account with NatwestOne applicant needs to have a personal or business account with RBS   Need to be a registered charity (e.g. with Charity Commission)