Try CAF Bank. (cafbank.org). It isn't totally fee free (although some bits are), but one of the reasons that our Scout District recommends it is because it offers double authorisation online for payments, which is something that you might want to use. It is good for Charities - not up with how a CIC is different though so you will need to check.

Over the counter banking is handled by HSBC.

Stuart

@stuartreynolds Double authorisation is a requirement for Charities. For us it could be seen as a additional safeguard or a hassle. Given that we will have a number of safeguards in place as part of our status as Ltd Company (Directors have to act in line wit the Law that governs us) then my view is that we are ok without this.

Will check CAF to see if they extend the offer to CICs. If no it looks like the cooperative. Will give them a call this week.

CAF charges £5 per month: https://www.cafonline.org/docs/default-source/charity-finance-and-fundraising/1956c_cafbank_tariffofcharges_web_hb_110816.pdf?sfvrsn=8

Would someone like to investigate Paypal? This would be in addition to a traditional bank account. It will probably be faster to set up and enable us to receive membership fees and donations online as well as being able to sell stuff(e.g.conference fees, merchandise)

So I checked the Coop. We will need to fill in this form.

So all Directors need to submit their details and as such meet the following requirements:
- Be 18 years or over
- Had no County Court Judgements (CCJs) in the last 6 years
- Not have been declared bankrupt or entered into an IVA in the last 6 years
- Not missed any payments on personal credit obligations in the last 6 months
- Reside in the UK

Do the account terms and conditions apply to all directors or just the ones who can spend money from the account?

We should avoid the vulnerability of someone not complying with the bank account conditions landing us with a bill by getting themselves elected to the board.