Running any group costs money, and it’s a good idea to start thinking at the beginning about where to get it from and how to look after it. As soon as your group has some money, it is a good idea to give someone responsibility for keeping track of it (the Treasurer).
Having a group bank account is the best way to make sure the group’s money is kept safely. Most high street banks offer special accounts for community groups. You will need to have at least two members of the group willing to act as signatories. Funders usually require (and it’s a sensible precaution in any case) that you have a bank account where each cheque has to be signed by two people.
Information for community groups about choosing a bank and opening an account.
Information and tips to help your whole committee take responsibility for looking after your group’s money.
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