Setting Up a Bank Account

There are no rules as to what the bank account should be named for a charity, it’s up to you in discussion with the bank officials. There are no rules on the number of signatories, but it would be good practice to require two signatories to spend any money.   There is nothing that says who should or shouldn’t be named as either the name on the bank account or one of the signatories, however transparency and accountability should be borne in mind so that the “outside world” can be reassured that the funds will be used only for the purpose for which they were given. 

There is nothing that says who should or shouldn’t be named as either the name on the bank account or one of the signatories.

Therefore, for example, if a signatory is directly involved with a beneficiary, e.g. related, it would be apropriate that the second signatory should be someone completely removed from that relationship.