30/04/2025
Charity banking challenges persist
Following our coverage in the last edition, the Charity Commission for Northern Ireland commented on the Charity Banking Challenges 2024 report issued by NICVA which confirmed that banking issues remain a major concern for charities. Many organisations continue to face difficulties such as long delays in opening accounts, unexpected account closures, and inadequate customer support.
Key challenges and issues with charity banking remain some of which include:
- Barriers to Banking – Some charities report waiting months to open an account, while others have had accounts shut without explanation.
- Lack of Sector Understanding – Banks often impose complex requirements that do not align with how charities operate, making financial management difficult.
- Disruptions to Services – Poor customer support and administrative delays hinder a charity’s ability to pay staff, process donations, and manage grants.
- Urgent Calls for Reform – Sector leaders are calling for improved banking services tailored to charities, with recommendations for regulatory intervention if necessary.
As the situation develops, charities are urged to review their banking arrangements and seek alternative solutions where possible.
For more guidance, please read more:
Can we Bank on the Banks? New Report Highlights Ongoing Challenges