The best deposit account interest rates for your Multi Academy Trust, School or Charity
Deposit Interest Rates for Schools, Academies and Charities - Correct as of 26th June 2022
Finding the best deposit account interest rates for your school, MAT or Charity is hard. It is time consuming and not every bank will want your deposits.
It can then take weeks or months to set up the account.
This is where we come in. We make the process easy for you.
You can open your deposit accounts without providing ID to each different bank and without completing an application form for each bank using an FCA registered Deposit Platfor
How do you access the best deposit accounts for your school or charity?
Choose your deposit platform (make sure it is FCA registered, holds the money in your name to ensure you retain ownership of the funds and ensure it offers you dual control if you would like it (we recommend this so deposits and withdrawals are checked by a second person))
Set up your deposit platform (a simple form that does not to be signed by every Trustee)
You will then have a 'hub' account that you transfer money to from your existing current account and where withdrawals go through back to your existing current account (Most hub accounts are set up so withdrawals can only go back to your bank account ensuring no one can request a withdrawal to a different account)
Fund your Hub account with a BACS or CHAPS transfer from your existing bank
Choose which banks and which accounts you want to place the deposits with (remember, there are no further application forms or ID to provide).
Enjoy easy access and easy operation of all the deposit accounts under a single, on-line banking platform.
We have compared the deposit platform providers and have selected the provider with the best combination of Banks, Security and fees for the education and not for profit sectors.