Bank Fees for small community groups

Hi all, Claire from Voluntary Action Leeds here,

I'm wondering if anyone has any information or advice on banks who dont charge for small community groups. As you well know, a bank account is often a prerequisite for groups to access funding pots, I'm talking small amounts, ie under £1000. It used to be that we could share quite a long list of banks offering a business/community account for free. Found out recently from a group that Metro Bank will be charging £3 a month from December, which got us looking at other offers. Some will offer free to registered charities, but we couldn't find one bank that offers free for small groups.

VAL are looking at this from two ways, are there any banks we have missed from the list below that does offer free accounts?

Also, communication with funders asking for this to be considered, so, can the bank admin fee be accounted for in grant spend, and, where this is a blockage to group accessing, will they allow a larger charity to act as a holder of the funds.

Anyone any success with local Credit Unions??

Here is a list that we pulled togther:

• CAF Bank - charge £5 monthly fee.
• Co-operative Bank. Only registered charities and CICs can get an account
• Metro Bank. FROM DEC 25 Monthly charges of £3 per month will be introduced
• Charity Bank - have to put 10000 to open an account and only for registered charities
• Triodos Bank - You must have turnover of £50k or more. No longer available to new customers.
• NatWest Community Bank Account. Can only apply if you have a personal bank account already.
• Bank Of Scotland Treasurers Account. £4.25 each month
• Barclays Community Account - have to be registered charity, £8.50 per month
• HSBC Charitable Bank Account - Charges fees.
• Lloyds Bank - Now charge a fee - £4.25 pcm plus transactions.
• RBS Community Bank Account - have to have a personal account already
• Reliance Bank -registered charities only
• Santander - registered charities only
• Unity Trust Bank - business accounts only - charge £6 per month for an account
• Virgin Money - for registered charities.