In most cases groups set up to respond to this crisis will be linked in to an existing group and will make use of this group''s bank account this is the easiest way of doing things and you should do this if at all possible.
If this is not possible groups will have to set up a new account. Most banks and many building societies offer accounts suitable for community groups, but with the current restrictions on going out, and with many bank staff working from home this can be a problem, and can take time.
It is important that you look for accounts that deliver the facilities you need and this should include the need for two signatories. The Resource Centre highlights some bank accounts that are available for community groups.
Metro Bank Cambridge
We have spoken to Metro bank and they are looking at fast tracking accounts for groups working around supporting people in the current crisis. Like all bank accounts you will need to either visit to verify your ID or have a solicitor or accountant do it and send it to the bank. They have some advice
- Keep the number of people on the account to a minimum, and no more than 2.
- Ask if anyone in the group is on a metro bank account with another group or business, if so they will not have to visit to verify their ID.
- They are able to accept e signatures for forms where this is not normally possible, but you still need identification to be verified.
- Expect delays as many staff have been moved to other roles.