Charities have to make the most of every penny they raise. Our Charities Account is aimed at registered charities that are looking for good rates of interest paid gross, but who also need instant access to their funds.
All registered charities in the UK can open a Charities Account. All we need is your charity's registration number and a copy of a resolution empowering officers to open the account. If you'd like advice and sample wording for the resolution, your local Yorkshire branch will be happy to supply it.
Unfortunately, if you're a non-registered charity you cannot open our Charities Account. However, you may want to take advantage of our Cash Transactor account.
Only £25 is needed to open an account. This is also the minimum balance you'll need to keep in the account.
Withdrawals can be made by those authorised to do so at any of our branches. This can be done without notice. We recommend that at least 2 people are authorised to access the account - both of whom must provide proof of identity when the account is opened.
Deposits can be made over the counter at any of the Society's branch or agency offices.
| Account Name | Charities Account |
|---|---|
| Interest rates (AERs) | Variable rate paid annually, view interest rate |
| Tax Status |
or
|
| Conditions for bonus payment | N/A |
| Withdrawal arrangements | Unlimited withdrawals. Subject to daily withdrawal limits |
| Access | Branch or Agency |
Whether you can benefit from gross, net or tax free interest is dependent on your own personal circumstances and tax status and so may be subject to change in the future.
Interest rates are variable. All rates shown are per annum.
Gross rate p.a.
Interest rate payable before any income tax is deducted. It can only be paid subject to the required registration.
Net rate p.a.
Interest rate payable after the deduction of income tax, at the lower rate of 20%.
AER
AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.
This savings account can be operated in various ways but must be opened at a branch or via the post.
Note: When applying for a YBS account you will need to verify your identity and address. Check our Verifying your Identity section for more details of what you may need to take with you.
Yorkshire Building Society is one of the largest building societies in the UK. We offer a range of financial products and services including: savings & investment accounts, insurance products, loans, mortgages and more.
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Yorkshire Building Society is authorised and regulated by the Financial Services Authority (FSA).
