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
The completion of the form is a requirement of the Places of Worship Registration Act 1855. However, paragraph 10 of the act specifically excludes churches in the Church of England. If a bank asks for Form 76, please ensure that they are aware this is not required for Church of England parishes. If you have any further issues with this, please contact James South. 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 company | Identical as same parent company | ||||||||
| Bank Name | Barclays | Cooperative Bank | CAF Bank | Natwest | RBS | Lloyds | Bank of Scotland | Santander | Virgin Money |
| Account Type | Community Account | Community Directplus | Current Account | Community Bank Account | Community Account | Treasurers Account | Treasurers Account | Treasurers Current Account | Charities Choice Account |
| Mothertree C02 rating – June 2023 (lower is better) | 2.376 | 0.328 | N/A | 1.295 | 1.295 | 0.704 | 0.704 | 1.742 | 0.517 |
| Free banking limit | £100,000 | £1,000,000 | N/A | £100,000 | £100,000 | £50,000* | £50,000* | £250,000 | £1,000,000 |
| Monthly fee | None | None | £5 | None | None | None | None | None | None |
| Online banking option | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| FSCS registered | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Current account switching service | Yes | Yes | No | Yes | Yes | Yes | Yes | Yes | Yes |
| Post office services | Yes | Yes | Cheque’s only, cash at HSBC | Yes | Yes | Yes | Yes | Yes | Yes |
| Restrictions | One applicant needs to have a personal or business account with Natwest | One applicant needs to have a personal or business account with RBS | Need to be a registered charity (e.g. with Charity Commission) | ||||||
| * If you receive a letter regarding charges from 1st January 2025, call 0345 3000075 and advise you are an excepted charity as these should not apply to charities (only clubs and societies) |