Thursday, May 19, 2016

 

Cambridge and Counties Bank - no good for charities?

Cambridge and Counties Bank is a UK bank that offers an attractive deposit account that could appear suitable for charities.

But take care - they do not (currently: May 2016) have any way of requiring two signatures on transfers. Is that a problem? Not necessarily - all transactions out of the account are only to a specified linked account (and changes to which account is linked require two signatures).

So as long as you set up a linked account that requires two signatures, it looks watertight - but perhaps worth checking with your auditor first!

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