Bank accounts for Friends groups
Opening a bank account is an important step for any Friends group. It helps keep your group’s money safe, makes it easier to manage funds for events or projects, and shows funders you’re organised and accountable. The good news is that many banks offer accounts designed especially for community or voluntary groups – sometimes called “treasurers accounts.” Below you’ll find some guidance on what to look for in an account, along with a useful link to a detailed guide from the Resource Centre charity, which compares the main high street options.
How to find a bank account
What you need to look for in a bank account:
- An account for community groups (not a business account)
- Sometimes might be called a treasurers account
- Ideally that it’s free, and that there are no transaction charges
Here are some useful resources to help you do that:
The Resource Centre is a charity that supports voluntary and community groups (such as Friends groups). They have a created a detailed resource on how to open a bank account and a comparison of some of the main high street providers and their accounts.