Charities Account
Account guide
Our Charities Account provides a simple and accessible way for charitable organisations to manage their funds.
Who can open an account?
- All charities registered with the Charities Commission for England and Wales or the Office of the Scottish Charity Regulator
- All trustees must be a permanent UK residents aged 18 years of age or over
- There must be at least two trustees with a maximum of three trustees allowed on the account
How do you open an account?
- You can open an account by post with as little as £1 up to £2 million. Once the account is opened you will be able to carry out transactions in your local Northern Rock branch** or Head Office.
- Please read the Terms and Conditions and Key Product Information before you open an account
Please note we are required to confirm the identity of all Trustees who are registered on an account. You will be required to send three documents to prove your identity.
What happens next?
- Once you have completed your application, we will give you a passbook which will contain your account number and opening balance
Ready to apply?
Great, let’s get the ball rolling. Take a look at the ways you can apply for this account and choose the option that best suits your needs.
Ways to apply- 1 AER stands for the Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added to the capital balance? each year.
- 2 Gross P.A. is the rate of interest paid to eligible non-taxpayers without the deduction of tax.
- 4 Net is the annual rate of interest payable after deduction of basic rate income tax (currently 20%). Interest will be paid net or, if we receive the necessary declaration from you, gross. Where the tax deducted exceeds your tax liability (if any) you may make a repayment claim to HM Revenue & Customs. If your income falls within the basic rate band the tax deducted will match your tax liability on the interest and you will have nothing further to pay. If you are liable to tax at the higher rate(s) you will have an additional tax liability. For more information please visit www.hmrc.gov.uk/individuals/babsi.htm.
- * Call our UK-based Contact Centre between 8am to 8pm business days, 8am to 4pm Saturday and 10am to 3pm Sunday. Calls are charged at your service provider’s prevailing rate and may be monitored and recorded.
- **Not all branches are able to offer full banking services. Any facility which is not available at your local branch, excluding cash deposits and general cash transactions, can be processed at our Head Office. Please refer to your local branch for details.