What is DocuSign?

DocuSign offers an easy way to sign agreements at any time, cutting out the need for paper and automating the process by connecting it to the systems businesses are already using. The aim is to make the process of completing agreements quicker, less expensive and less prone to errors. DocuSign uses e-signature technology to help organisations connect and automate how they prepare, sign and manage agreements.

DocuSign is used in over 180 countries and by more than a billion users worldwide, including many of the top financial companies.

What are the benefits of a charity savings account?

Having a charity savings account brings many benefits. As well as earning your charity additional revenue, it can help you plan for future expenses, such as equipment upgrades, marketing campaigns or hiring extra staff. It can also create an emergency fund for unexpected expenses, help future credit applications and can show potential investors and partners that you are a credible charity taking your long term financial health seriously.

A charity savings account is a great way to make your money work harder and earn extra revenue, so don’t delay and apply for your account now.

What are charity savings accounts?

They are accounts charities can use to earn interest on money they don’t need to keep in a current account for day-to-day expenses. Most charity current accounts do not pay interest on positive balances, so if you keep surplus cash in your charity current account you are probably missing out on a simple way of making your money work harder and earning your charity extra revenue.

What is the difference between a savings account and a current account?

A charity savings account is very simple in that it allows you to set aside excess money in your charity to keep it separate from the account you use for everyday income and expenditure and to earn interest on surplus money which would otherwise earn little or no interest in your current account. A charity savings account doesn’t usually come with a payment card, cheque book, overdraft or other facilities a current account may offer.

Are there different types of charity savings accounts?

There are three common types of savings account:

Fixed term bonds – These allow you to set aside a one-off sum for a specified length of time and earn an agreed rate of interest during that period. However, with most fixed term bonds, you cannot withdraw your money during the term of the bond, so you should only deposit funds you won’t need to access during that time.

Notice accounts – These allow you to deposit funds whenever you wish and to earn an agreed variable rate of interest on your balance. However, you can only make withdrawals after giving the required notice. For example, with our 40-Day Notice account you would have to request a withdrawal 40 days before you needed to have the money. These accounts offer more flexibility than fixed term bonds and usually pay a slightly lower interest rate as a result. United Trust Bank also offer a notice tracker account, which tracks the Bank of England base rate.

Easy access accounts – These offer the greatest flexibility as you can withdraw your money at any time. However, these typically pay the lowest rates of interest of the three main types of charity savings accounts.

How do I apply for an account?

Simply head to our Charity Savings Accounts page, and once you have decided which account you would like to open, follow the on-screen instructions to be directed to the online application form hosted by our partner DocuSign. If you are not able to complete the online form, please contact us.

What are the types of savings accounts I can open with United Trust Bank?

We offer four types of savings accounts: fixed term bonds, notice accounts, a notice tracker account, which tracks the Bank of England Base Rate, and an easy access account.

What types of charities can apply for a savings account?

We accept applications from the following charity types:

• Charitable companies (limited by guarantee), registered on the Charities Commission

• Charitable incorporated organisations (CIOs), registered on the Charities Commission and Companies House

• Excepted charities, not on the Charities Commission but still regulated by them

• Exempt charities, not on the Charities Commission that still comply with charity law

Charitable companies and CIOs must have a minimum of two trustees, and CIOs must also have a minimum of one director. For all charity types, the governing document must not be a Trust Deed, and all parties must be UK residents over the age of 18.

Do you accept applications from Charitable Trusts?

Charitable Trusts are normally governed by a Trust Deed and can often be more complex, and United Trust Bank are not currently accepting any applications from charities governed by a Trust Deed.