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Laura Iosifescu's badges

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I have been struggling to open a bank account for my organization for a few months now and I don't know which bank I need to go to that's not as difficult to have an account with.

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Lisa Freer's badges

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I've found Natwest good - not the quickest to get it open, took about 12 weeks, but it's fit for purpose and free if one of your board/signatories is an existing account holder on a business or personal account

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Michael McKillop's badges

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CiCs are as dead as a Dodo ... why bother ! 5000 CICs v 170000 Registered Charities...major fail there!

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Michelle Aban's badges

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I do not know much but my friends tell me these could be good platforms with regards to your query. Barclays Community Account, Natwest Community Account or better yet try Lloyds Bank Treasurer's Account. These and many more can help you. I have been working in a charity community and did a quick donate and my friend has helped me out on this when it came to the financial aspect in processing certain papers though.

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Terry Bayliffe's badges

I have a Charity Account with Lloyds Bank and a Not for Profit Account with Barclays. Neither charge any fees.
 I hope that helps.
Terry B

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Michelle Eden's badges

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I'm founder and volunteer director of a CIC, we opened an online account with CAF Bank, which was pretty straightforward.

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Ian McLintock's badges

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This Charity Excellence resource should give you everything you need https://www.charityexcellence.co.uk/Home/BlogDetail?Link=Open_Charity_Bank_Account

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Emma Patmore's badges

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Laura, have you spoken yet with Fiona? She's offering her services that might just be the right way to go!
You might also have a look at Triodos Bank, an organisation specially to help charities, NfPs and all other similar organisations. I've wprked with them, and can vouch for their honesty and professionalism.
Good luck!
Emma

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Fiona Sanderson's badges

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Hello Laura 
 
All banks are a challenge at present to open accounts with. This is for regular businesses, charities and CICs. They're being cautious due to Covid. 
 
However, CIC clients of ours have been able to open accounts with Barclays, Starling, Natwest and CoOp over the last few months. 
 
Whilst I can't help any further with bank accounts, I am an accountant who woks solely with CICs and charities. 
 
Wishing you the best
Fiona

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Laura Iosifescu's badges

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Fiona Sanderson thank you so much .
We are a start-up organization and we were told that we can only open an account for CIC companies with at least two signatories and not a business account. Starling and other banks do indeed offer bank accounts but not account for CICs.

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Fiona Sanderson's badges

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Laura Iosifescu   I suspect that the people you've spoken with at the bank do not understand what a CIC is. 
 
You're a limited company therefore you should be able to open any business account. 
 
You are also a nfp so you should be able to open a community account. 
 
The clients of ours that I mentioned above are all start ups and have opened regular business accounts. I am not aware of any bank account that is specifically for CICs, there just aren't enough CICs for that to be profitable to the banks. 

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