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.

Do you accept applications from exempt or excepted charities?

No, we do not currently accept applications from any charity that is not registered with the Charities Commission.

How do I choose the best charity savings account?

This decision should be based on your long-term goals and factor in any immediate needs. If you have funds spare that you can afford to set aside for a fixed period of time, a Fixed Rate Bond is an excellent way to grow those funds with a higher interest rate. For more flexibility, a Notice Account may be more attractive as it will allow you to withdraw funds provided you give the required notice period.

What is the minimum and maximum I can invest?

The minimum initial investment is usually £5,000 per account and the maximum is £1,000,000. If you wish to deposit more than this, please click here to find out how we can help you.

Are charity savings protected by the FSCS?

Yes, all charity savings are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000. To find out more, please click here.

Can my charity hold multiple savings accounts?

There is no limit on how many savings accounts you open with United Trust Bank, so you can choose to spread your funds over multiple accounts if you wish, both with our fixed rate and notice products.

If I am involved with more than one charity, can I open accounts for each of them?

Yes, though please note you need to have a different email address for each charity.

Can I open a charity savings account if I or another trustee lives outside of the UK?

At the time of making your application, any named signatory or trustee must be an individual who permanently resides in the UK for tax purposes, and we reserve the right to decline an application if any signatory or named trustee is resident outside of the UK.

What information will I need to provide as part of my application?

When submitting your application, you will need to provide details of your charity, including information on the charity’s activities, and any individuals you want to operate as signatories on your account. If your charity operates in, or benefits other countries, you will need to provide further information on the overseas activities.

If your charity is also a limited company, you will need to provide details of at least one director and any shareholders (if applicable) that own 25% or more of the shares (irrespective of the share class) in your company.

We will require a copy of your charity’s governing document, and for those not registered on the Charities Commission, this must be certified by someone outside of your organisation (for example, a solicitor, the post office, or an FCA-registered broker).

Whilst we run an electronic identity check upon receipt of the application, we may on occasion require ID documents or further information to confirm an individual’s identity.

Why have I been asked to provide more information?

As part of our customer due diligence, there may be instances when we need clarification on the information you have provided. This doesn’t mean your application has not been accepted, but it may delay the account being opened. It is therefore important that any information you provide is up-to-date and accurate.

How do I register for online banking?

We are working on an online banking service for our business and charity customers, and once this is available, we will invite you to register. In the meantime, you can manage your account by email, phone and post.