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Alliance and Leicester offer improved banking services to charities
Howard Lake | 10 February 2004 | News
Charities, clubs and other non-profit organisations can now earn up to 3.80% gross on their cash reserves at Alliance & Leicester Commercial Bank.
The bank says that it has simplified and improved the current account and deposit account products it offers to non-profit organisations. In addition, organisations with a minimum balance of £10,000 can earn 3.80% gross on their cash reserves.
The accounts for charities and voluntary groups now comprise:
- Community Current Account: a free current account offering a cheque book and cash facilities at the 16,500-strong Post Office network. Transactions can also be carried out by post, phone or the Internet.
- Community Instant Reserve Account – offering instant access and 3.60% gross on balances of £1 upwards. It is guaranteed to pay 0.40% below Alliance & Leicester Commercial Bank’s base rate. Transactions can be carried out by post, phone or the Internet (with a maximum of 10 free transactions per month).
- Community 30-Day Notice – a 30-day account paying 3.80% gross (minimum balance of £10,000). It is guaranteed to pay 0.20% below Alliance & Leicester Commercial Bank’s base rate. Transactions can be carried out by post, phone or the Internet, with a maximum of 10 free transactions per month.
Alex Smith, Head of Deposit Accounts at Alliance & Leicester Commercial Bank, said: “Getting the most competitive rates usually means having to limit access in some way. But our improved accounts offer straightforward, guaranteed good value coupled with the convenience of banking by telephone, post, the internet and local post offices.”
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About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale. He is the founder of Fundraising Camp and co-founder of GoodJobs. - NAO reports on museums and art galleries' fundraising (16 February 2004)
