Many charities are surprisingly not protected by the Financial Services Compensation Scheme (FSCS) against bank deposits held within the European Economic Area.
The qualifying criteria for protection are that a charity:
- Has a turnover of not more than £6.5 million
- Has a balance sheet total of not more than £3.26 million
- Has not more than 50 employees.
Many larger charities fall outside of these criteria, so are not shielded from risk of bank failure a fact which should be considered when deciding on a secure home for their funds.
For further information please download a copy of our brochure, Charity Funds – An Opportunity. If you would prefer to receive a hard-copy of the brochure by post. Please complete and submit the form below.