The Morris Federation is not qualified to advise on financial matters, but here are some general comments.
UPDATE: The latest information about the Trust Registration Service, can be found here.
Choosing a bank account
If you are likely to pay in cash collections, it is worth asking the bank’s policy on this – and ensure they have a branch nearby (or have arrangements with your local Post Office, for instance).
Opening a ‘club’ bank account
When opening an account, you will generally need to provide a copy of your team’s Constitution which states what will happen to the money if the team folds. Here are some hints and tips for writing a constitution.
You may also need a copy of the minutes of the meeting where you decided to open an account with the bank. This is so they have evidence that it is a team decision.
You may be asked to provide evidence of the address of your team. The MF Treasurer is happy to provide a receipt for membership showing your team correspondence address for this purpose if needed: Contact us.
Your bank may also ask if you are registered with the Trust Registration Service, so please check our guidance.
