BBA launches free guide to help people manage charities' finances

Managing the finances of a charity or voluntary organisation has been made a little easier after the launch of a free information leaflet by the British Bankers' Association and Charity Finance Group.

Banking for Charities aims to help people explore the accounts on offer and decide on the best way of managing their charity or voluntary organisation’s finances.

The jargon-free guide - which is filled with FAQs and practical guidance - should help trustees, managers and anyone who has financial responsibilities to successfully navigate the banking landscape and significantly improve the management of their charity’s or voluntary organisation’s banking arrangements.

The BBA is the leading trade association for the UK banking and financial services sector, representing over 200 banking members, which are headquartered in fifty countries and have operations in 180 countries worldwide. The BBA's member banks collectively provide the full range of banking and financial services and make up the world’s largest international banking centre.

Anthony Browne, BBA chief executive, said: "The BBA has been delighted to partner with the Charity Finance Group to put together this guide; and we really hope that people who look after charity finances find it helpful. We know that there are lots of people around the country who work hard – and often for free – to manage the financial affairs of a charity or voluntary organisation. This guide aims to help them navigate the various banking choices on offer and decide the best financial arrangements for their charity".

CFG champions best practice in finance management in the voluntary sector. Its training and development programmes are aimed at enabling finance managers to give the essential leadership on finance strategy and management that their charities need. It has more than 1,800 members, managing over £21bn.

Caron Bradshaw, Charity Finance Group chief executive, commented: "We frequently receive queries from charities about banking and by teaming up with the BBA we have been able to draw on their knowledge to produce a concise, jargon-free and, most importantly, impartial guide charities can use to understand their options.

"We'd like to see banking move from a passive arrangement to one where charities are regularly ensuring they are getting the best service, and the launch of this guide provides a key opportunity to encourage all charities to review their banking arrangements to make sure they are best suited to their needs".

Link to BBA website - http://www.bba.org.uk