Post-COVID, rural charities are facing significant banking challenges. A survey of over 1,200 charities with NCVO found that 67% struggle with changing signatories, and 41% report unfair charges. Nearly half of rural respondents cite branch closures and a shift to online banking as key issues. They need tailored banking options, including dual authorization, support for cheque use, and accommodations for low turnover. Trustees are concerned that banks lack an understanding of the charity sector, prompting calls for urgent, sustainable solutions.
Author(s): ACRE: Action with Communities in Rural England
Year: 2022
