We understand charity savings
accounts

Accounts for registered and incorporated charities.
If you have in excess of £1,000,000 to deposit
please click here
.

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Managing your account

We are working on an online banking service for our Business customers, once ready we will invite you to register.

In the interim period you can manage your account by email, phone and post.

Fixed Term Charity Bonds

Charity 3 Month Bond – 4.45% Gross / 4.52% AER

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Charity 3 Month Bond – 4.45% Gross / 4.52% AER

What is the interest rate?:
4.45% Gross / 4.52% AER.*

The interest is calculated daily using the cleared balance of the account and paid on maturity.

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Can United Trust Bank change the interest rate?
No. The interest rate is fixed for the term of the bond.

What would the estimated balance be after 3 months based on a £5,000 deposit?
£5,054.72. The projection provided is for illustrative purposes only and does not take into account individual circumstances.

How do I open and manage my account?
To open an account:
– Charities needs to be registered with the UK Charity Commissions (either Scottish or English).
– The minimum balance is £5,000.00 per account.
– The maximum balance is £1m per account.
– You can open our Charity accounts by completing an application form which can be obtained from our website www.utbank.co.uk
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in the name of the Charity.
– You have 14 days after submitting your application to fund your account, which needs to be sent from your Nominated Account either electronically or a cheque. If it is not funded within the 14 days we will close the account.

To manage the account:
– You can communicate and manage your account via email, post or telephone.

Can I withdraw money?
No. Withdrawals, transfers or closures are not permitted before the maturity date.

We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.

If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will then make a full repayment electronically to your Nominated Account.

Additional information
– Opening the account is subject to our Terms and Conditions.
– Offers can be withdrawn at any time.
– Interest is paid Gross i.e. without the deduction of tax.
– Tax treatment depends on individual circumstances and could change in the future.

Need some help with our Charity accounts?
Here you can find answers to our most common questions. If you still cannot find what you are looking for, please use the contact us form within our ‘How can we help’ section.

Please take time to read and understand our Terms and Conditions before applying for any of our accounts.

Charity 6 Month Bond – 4.50% Gross / 4.55% AER

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Charity 6 Month Bond – 4.50% Gross / 4.55% AER

What is the interest rate?:
4.50% Gross / 4.55% AER.*

The interest is calculated daily using the cleared balance of the account and paid on maturity.

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Can United Trust Bank change the interest rate?
No. The interest rate is fixed for the term of the bond.

What would the estimated balance be after 6 months based on a £5,000 deposit?
£5,111.26. The projection provided is for illustrative purposes only and does not take into account individual circumstances.

How do I open and manage my account?
To open an account:
– Charities needs to be registered with the UK Charity Commissions (either Scottish or English).
– The minimum balance is £5,000.00 per account.
– The maximum balance is £1m per account.
– You can open our Charity accounts by completing an application form which can be obtained from our website www.utbank.co.uk
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in the name of the Charity.
– You have 14 days after submitting your application to fund your account, which needs to be sent from your Nominated Account either electronically or a cheque. If it is not funded within the 14 days we will close the account.

To manage the account:
– You can communicate and manage your account via email, post or telephone.

Can I withdraw money?
No. Withdrawals, transfers or closures are not permitted before the maturity date.

We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.

If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will then make a full repayment electronically to your Nominated Account.

Additional information
– Opening the account is subject to our Terms and Conditions.
– Offers can be withdrawn at any time.
– Interest is paid Gross i.e. without the deduction of tax.
– Tax treatment depends on individual circumstances and could change in the future.

Need some help with our Charity accounts?
Here you can find answers to our most common questions. If you still cannot find what you are looking for, please use the contact us form within our ‘How can we help’ section.

Please take time to read and understand our Terms and Conditions before applying for any of our accounts.

Charity 1 Year Bond – 4.80% Gross/AER

Summary Box

Charity 1 Year Bond – 4.80% Gross/AER

What is the interest rate?:
4.80% Gross/AER.*

The interest is calculated daily using the cleared balance of the account and paid on maturity.

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Can United Trust Bank change the interest rate?
No. The interest rate is fixed for the term of the bond.

What would the estimated balance be after 12 months based on a £5,000 deposit?
£5,240.00. The projection provided is for illustrative purposes only and does not take into account individual circumstances.

How do I open and manage my account?
To open an account:
– Charities needs to be registered with the UK Charity Commissions (either Scottish or English).
– The minimum balance is £5,000.00 per account.
– The maximum balance is £1m per account.
– You can open our Charity accounts by completing an application form which can be obtained from our website www.utbank.co.uk
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in the name of the Charity.
– You have 14 days after submitting your application to fund your account, which needs to be sent from your Nominated Account either electronically or a cheque. If it is not funded within the 14 days we will close the account.

To manage the account:
– You can communicate and manage your account via email, post or telephone.

Can I withdraw money?
No. Withdrawals, transfers or closures are not permitted before the maturity date.

We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.

If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will then make a full repayment electronically to your Nominated Account.

Additional information
– Opening the account is subject to our Terms and Conditions.
– Offers can be withdrawn at any time.
– Interest is paid Gross i.e. without the deduction of tax.
– Tax treatment depends on individual circumstances and could change in the future.

Need some help with our Charity accounts?
Here you can find answers to our most common questions. If you still cannot find what you are looking for, please use the contact us form within our ‘How can we help’ section.

Please take time to read and understand our Terms and Conditions before applying for any of our accounts.

Charity 2 Year Bond – 4.85% Gross/AER

Summary Box

Charity 2 Year Bond – 4.85% Gross/AER

What is the interest rate?:
4.85% Gross/AER.*

The interest is calculated daily using the cleared balance of the account and paid annually and on maturity. You can select to have the annual interest either added to your account or transferred to you nominated bank account.

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Can United Trust Bank change the interest rate?
No. The interest rate is fixed for the term of the bond.

What would the estimated balance be after 2 years based on a £5,000 deposit?
£5,496.76.

The projections provided are for illustrative purposes only and assume that the interest has been compounded. The projections do not take into account individual circumstances

How do I open and manage my account?
To open an account:
– Charities needs to be registered with the UK Charity Commissions (either Scottish or English).
– The minimum balance is £5,000.00 per account.
– The maximum balance is £1m per account.
– You can open our Charity accounts by completing an application form which can be obtained from our website www.utbank.co.uk
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in the name of the Charity.
– You have 14 days after submitting your application to fund your account, which needs to be sent from your Nominated Account either electronically or a cheque. If it is not funded within the 14 days we will close the account.

To manage the account:
– You can communicate and manage your account via email, post or telephone.

Can I withdraw money?
No. Withdrawals, transfers or closures are not permitted before the maturity date.

We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.

If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will then make a full repayment electronically to your Nominated Account.

Additional information
– Opening the account is subject to our Terms and Conditions.
– Offers can be withdrawn at any time.
– Interest is paid Gross i.e. without the deduction of tax.
– Tax treatment depends on individual circumstances and could change in the future.

Need some help with our Charity accounts?
Here you can find answers to our most common questions. If you still cannot find what you are looking for, please use the contact us form within our ‘How can we help’ section.

Please take time to read and understand our Terms and Conditions before applying for any of our accounts.

Charity 3 Year Bond – 4.15% Gross/AER

Summary Box

Charity 3 Year Bond – 4.15% Gross/AER

What is the interest rate?:
4.15% Gross/AER.*

The interest is calculated daily using the cleared balance of the account and paid annually and on maturity. You can select to have the annual interest either added to your account or transferred to you nominated bank account.

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Can United Trust Bank change the interest rate?
No. The interest rate is fixed for the term of the bond.

What would the estimated balance be after 3 years based on a £5,000 deposit?
£5,648.69.

The projections provided are for illustrative purposes only and assume that the interest has been compounded. The projections do not take into account individual circumstances.

How do I open and manage my account?
To open an account:
– Charities needs to be registered with the UK Charity Commissions (either Scottish or English).
– The minimum balance is £5,000.00 per account.
– The maximum balance is £1m per account.
– You can open our Charity accounts by completing an application form which can be obtained from our website www.utbank.co.uk
– A Nominated Bank Account must be provided when applying for an account. This must be a transactional UK Bank account, and must be in the name of the Charity.
– You have 14 days after submitting your application to fund your account, which needs to be sent from your Nominated Account either electronically or a cheque. If it is not funded within the 14 days we will close the account.

To manage the account:
– You can communicate and manage your account via email, post or telephone.

Can I withdraw money?
No. Withdrawals, transfers or closures are not permitted before the maturity date.

We will contact you approximately 14 days before your account matures detailing your options and enabling you to give us your maturity instructions.

If we do not receive an instruction from you we will reinvest your funds into a seven day instant access account at the banks’ prevailing rate for such accounts. Following a maximum of four, seven day renewals, we will then make a full repayment electronically to your Nominated Account.

Additional information
– Opening the account is subject to our Terms and Conditions.
– Offers can be withdrawn at any time.
– Interest is paid Gross i.e. without the deduction of tax.
– Tax treatment depends on individual circumstances and could change in the future.

Need some help with our Charity accounts?
Here you can find answers to our most common questions. If you still cannot find what you are looking for, please use the contact us form within our ‘How can we help’ section.

Please take time to read and understand our Terms and Conditions before applying for any of our accounts.

How much interest could I earn?

Savings Interest Calculator

I am interested in saving into

Apply online

Apply for any of our personal savings accounts online here.

Funding your account

If you need help or find out how to fund your account please visit our FAQ’s here.

How can we help?

Visit our help section where you can find our FAQs and ways to contact us.

FSCS

The Financial Services Compensation Scheme (FSCS) is an independent scheme that protects some of your deposits.

Existing customers

If you have a savings account with UTB you can find our help section and downloadable forms here.

Product guide

Download a product guide for our personal savings accounts.

Terms and Conditions

Before you apply for a savings account, please read our Terms & Conditions.

Historic rates

View our historic rates.

Important information

Help with verifying your identity, updating your marketing preferences and other useful information here.

UTB Charity Savings Accounts – Frequently Asked Questions

What are charity savings accounts?

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They are accounts charities can use to earn interest on money they don’t need to keep in a current account for day-to-day expenses. Most charity current accounts do not pay interest on positive balances, so if you keep surplus cash in your charity current account you are probably missing out on a simple way of making your money work harder and earning your charity extra revenue.

What is the difference between a savings account and a current account?

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A charity savings account is very simple in that it allows you to set aside excess money in your charity to keep it separate from the account you use for everyday income and expenditure and to earn interest on surplus money which would otherwise earn little or no interest in your current account. A charity savings account doesn’t usually come with a payment card, cheque book, overdraft or other facilities a current account may offer.

Are there different types of charity savings accounts?

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There are three common types of savings account:

Fixed term bonds – These allow you to set aside a one-off sum for a specified length of time and earn an agreed rate of interest during that period. However, with most fixed term bonds, you cannot withdraw your money during the term of the bond, so you should only deposit funds you won’t need to access during that time.

Notice accounts – These allow you to deposit funds whenever you wish and to earn an agreed variable rate of interest on your balance. However, you can only make withdrawals after giving the required notice. For example, with a 40-Day Notice account you would have to request a withdrawal 40 days before you needed to have the money. These accounts offer more flexibility than fixed term bonds and usually pay a slightly lower interest rate as a result.

Instant access accounts – These offer the greatest flexibility as you can withdraw your money at any time. However, these typically pay the lowest rates of interest of the three main types of charity savings accounts

What types of charities can apply for a savings account?

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We accept applications from registered charities and charitable incorporated organisations (CIOs). Charities must be registered on the Charities Commission with a minimum of two trustees, operating in and benefitting areas solely in the UK, where the governing document is not a Trust Deed. In addition, CIOs must be registered on Companies House with a minimum of one director.

Do you accept applications from Charitable Trusts?

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Charitable Trusts are normally governed by a Trust Deed and can often be more complex, and United Trust Bank are not currently accepting any applications from charities governed by a Trust Deed.

Do you accept applications from exempt or excepted charities?

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No, we do not currently accept applications from any charity that is not registered with the Charities Commission.

What is the minimum and maximum I can invest?

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The minimum initial investment is usually £5,000 per account and the maximum is £1,000,000. If you wish to deposit more than this, please click here to find out how we can help you.

Are charity savings protected by the FSCS?

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Yes, all charity savings are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000. To find out more, please click here.

Can my charity hold multiple savings accounts?

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There is no limit on how many savings accounts you open with United Trust Bank, so you can choose to spread your funds over multiple accounts if you wish, both with our fixed rate and notice products.

If I am involved with more than one charity, can I open accounts for each of them?

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Yes, though please note you need to have a different email address for each charity.

Can I open a charity savings account if I or another trustee lives outside of the UK?

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At the time of making your application, any named signatory or trustee must be an individual who permanently resides in the UK for tax purposes, and we reserve the right to decline an application if any signatory or named trustee is resident outside of the UK.

What happens to the funds when the account reaches maturity?

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We will both write to you and email you (if you have an email address registered with us) approximately two weeks before your account is due to mature, outlining your options for reinvestment.

It is important that you provide your instructions before the maturity date to secure any preferential existing customer rate you are offered. If we do not receive instructions by the maturity date, your funds will be transferred to a holding account paying just 0.10% AER gross, where they will remain for a maximum of 28 days before being returned to the nominated bank account we hold on file for you.