# Alliance and Leicester offer improved banking services to charities

- Link: https://fundraising.co.uk/2004/02/10/alliance-and-leicester-offer-improved-banking-services-charities/
- Published: 2004-02-10T00:00:00+00:00
- Author: Howard Lake

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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