Charity to lose thousands in revenue as Halifax changes account
PUBLISHED: 15:22 14 August 2012 | UPDATED: 16:03 14 August 2012
A charity based in Bethnal Green is being forced to change its bank account, which it says will cost them as much as £4,000 per year in lost donations.
The Speak Network, a Christian charity which campaigns on issues of human rights and global justice, has had an account with Halifax since 2000, but the bank informed them in June that its particular type of account will no longer be available after October.
This is leaving the charity with the prospect of losing thousands of pounds in revenue. The charity receives monthly donations via standing orders into the account, but the details of many long-term donors are no longer available to the charity, while others have chosen to remain anonymous.
Matty Creber, who is the office manager in the charity’s headquarters in Old Ford Road, believes other not-for-profit organisations may have experienced similar problems.
He said: “This is an unfair way of treating small charities. We have a significant number of donations into the account, so we stand to lose a lot of money.
“We campaign against corporate greed, so it’s ironic that we are now victims of Halifax,” he added.
Mr Creber also said that the charity had explored all its available options in an attempt to persuade Halifax to allow them to retain their current bank details so as not to lose donations, only to be informed by Halifax that this was not possible.
The changes appear to stem from the Lloyds takeover of the bank in 2009. A Halifax spokeswoman confirmed the bank is no longer offering accounts for charities, clubs or societies, adding: “The Group will continue to offer non-personal accounts through Bank of Scotland and Lloyds TSB Commercial brands, providing a wide range of products and specialist advice for our customers. We’ll work hard to assist them in this transition.”
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