After years of inertia, more than half of charities changed their bank in 2008, as trust in banks was shaken by the financial crisis.
Charity Finance runs an annual Charity Banking Survey each April, which looks at which banks are popular in the sector, their performance, and how proactive charities are in making key banking decisions.
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The Plunkett Foundation has created a membership scheme for the UK’s 255 community-owned shops and signed a deal with Ethecol Merchant Services to install a card-processing system in each one.
More charities should adopt e-banking and become less reliant on cheques to mitigate risk, according to Peter Mitchell, chief executive of CAF Bank.
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