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We’re a walking football club and do not exist formally. (Bunch of mates, all throw £3 each into plastic bag when we play and I sort it out, £2 of the three goes to local football club club as we use their pitch and £1 to us - which we use for balls, goalie gloves and meal subsidies , and the cash lives in a plastic bag). We have no committee, letters, roles, articles etc etc, it’s all sorted out on what’s app and in the pub.
however, we are now going to play on the Astro pitch belonging to the local football club , they need to be paid by bank transfer. I don’t really want to be converting lots of shrapnel to bank account etc etc .
I can (it appears) , create a free nationwide account in my name and use that - but imho it’s a bit too tied to me.
anybody use the HSBC Community account or similar, or suggest an account for
- organisation that doesn’t really exist
- 3/4 signatories
- free
thanks
My scout troop use Nat West- there are no fees but it's a pretty old account (been going since the 1960s) so could be a legacy issue. When we've tried to do amendments, it has been tricky as it sometimes gets classed as a business account.
We have multiple cheque signatories, but online payments have snuck through as single authoriser. We've tried to change it to 2 but it seems we may need to change the account type and this could lead to charges.
I don't believe any bank will touch it without at least a constitution etc. Even then its got zero profit so its hassle with no upside.
A separate account with people paying you by bank transfer, or even card payment, would sort the shrapnel issue.
Might be worth looking at some of the squareup type offerings that turn a phone into a card terminal, I am guessing that you can create multiple users on them - but there will be tranaction costs although the headline price for the app using contactless suggests its just 1.75%. Not sure how easy to change the destination bank account (ie. can you pay supplier direct).