Primarily for general aviation discussion, but other aviation topics are also welcome.
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By mossie
#1893482
Hi all ,

apologies first if I've started this in the wrong place - Mods tell me to move it if so !!

We have a group aircraft, and all the funds, of course, are held in an HSBC community bank account. All very nice thank you - as it seems to work and there $were$ no charges. Now they charge us £5 per month to keep the account open.

So, whilst this is not going to kill us as a group - I'm wondering about alternatives.

Any ideas or experiences of the same thing ? - what did you do ?

Ta
#1893485
Your choice of accounts is limited to business accounts, and more banks seem to charge. Starling Bank don't, and they get good accolades for their banking. I've found them good for business banking. It's a bit of a headache opening new accounts anywhere, due to compliance requirements, so you'll need to weigh the hassle factor against your HSBC charges.
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By Rob P
#1893489
There's just two of us and we hold a joint account with Metro Bank. It costs us nothing.

In previous groups, the treasure and one other have been the only signatories to the bank account anyway.

Rob P
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By riverrock
FLYER Club Member  FLYER Club Member
#1893492
This list from a year ago is charity focused but generally follows:
https://scvo.scot/support/running-your- ... comparison
On one of my groups, two members just setup a joint account which is used. Obviously trust required to do this (especially since now their credit ratings will be linked!).
On the other I think we have a BofS treasurer's account with no fees, but I understand BoS aren't currently allowing new customers to access that.
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By mossie
#1893512
Thanks everyone for the numerous and fast replies. I have noticed that some providers accounts are not accepting new customers - so might have a limited scope to further investigate !

I have time to investigate - so "hassle" is not a problem really.

Cheers
By ROG
#1893573
Our group account is with Lloyds.--comes under business--.Receive no interest.
No charges
We have 2 signatures on a cheque--only way that cash can be take from the account. This is a good safety factor as we did have an attempt some years ago to transfer all our funds into another account.
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