Home / Support / Finance / Financial Procedures / Banking Best Practice

Financial Procedures: Banking Best Practice

Share this page

Share an article by email

  • This field is for validation purposes and should be left unchanged.

There are many different banks which offer accounts for not-for-profit organisations such as churches. When it comes to banking as a charity there are two main areas to consider: is the account right for my needs and am I appropriately safeguarding access to the funds held there.

When looking at whether an account is right for your needs you will want to think about:

  • Ease of access
  • What services are offered (e.g. cheques, online banking, debit card etc.)
  • Ease of depositing cash/cheques
  • The cost of the account
  • The interest on the account if you are trying to save

Most high street banks will offer these services. For general banking you may also wish to consider these specialist banks.

When looking at whether you are appropriately safeguarding the funds there are multiple issues to think about and detailed guidance can be sought from your Area Finance Adviser however there are some overarching themes:

  • Ensuring only appropriate people have access to/can withdraw from the account
  • Ensuring that at least 2-3 people have access in case of emergencies
  • Where possible requiring two authorisations to make payments*
  • Banking cash & cheques as soon as possible
  • Performing monthly reconciliations between bank statements and accounts

*Most banks facilitate dual authorisation for cheques. CAF Bank also facilitates dual authorisation for online payments.


Parishes have the right to borrow money from any reputable lender however you will likely find that high street banks/lenders do not understand the structure of parishes and are therefore reluctant to provide funding. Click here for a list of banks that specialise in banking for and lending to churches/charities.

to top