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Do we need to open a separate bank account after receiving a grant?

anita maria huws Trustee at Angor Posted 2 years ago

Hi,

Firstly I would like to thank the community for the help and advice that I received with my last post. Additionally, the Cranfield Trust were excellent. Thanks to Alice, Vanessa and Jayne.

Recently we have been awarded a Grant. Is it a requirement to open a separate account as the funding is restrictive? The money was paid into our Charity Bank Account (HSBC). Do some charities open a savings account alongside their main account and move money across?

Many thanks for any advice/direction.

Best wishes,

Anita (Angor)