CIC Association

Serving Community Enterprise

Hello

A Charity I founded has been with NatWest for a decade. Whenever we want to change who has access, it's a complete pain! I wish to avoid these issues when we set up a CIC.

What banks are best suited to a CIC? 

Has anyone had any success with registering a CIC with a non-high street bank? e.g. Monzo, Tide, Revolut etc. I can't find any that will take CIC's.

Multiple people being able to access the account is important too.

Any suggestions or experiences would be appreciated.

Thank you

George

Views: 45

Replies to This Discussion

I've used The Co-operative Bank in the past for a CIC.

https://www.co-operativebank.co.uk/business/products/current-accoun...

Thanks for your reply, James.

What has been your experience with The Co-op? Any gripes?

Did/do you have multiple names on the account?

Has it been it straight forward to add and remove access for other people?

Thanks

George

Yes, it was straighforward enough. One potential trouble may be the limited number of Co-op bank branches, but we only used it online, not for paying in or withdrawing cash.

I have had a business account with Coop for ten years. I would not recommend them. As for adding / removing people? Just awful. Took ten weeks and they never actually added the other person. There was no card issued, no co-signatory on cheques etc. I am in the process of closing my account with the Coop. 

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