Charities: holding, moving and receiving funds safely
How charities can hold, move and receive funds in the UK and internationally using formal banking systems and other methods.
Ref: Chapter 4: Summary - PDF PDF, 461KB, 9 pages
Ref: Chapter 4: Holding, moving and receiving funds safely in the UK and internationally - PDF PDF, 978KB, 31 pages
Ref: Chapter 4 Tool 1: Practical advice on operating bank accounts - PDF PDF, 194KB, 2 pages
Ref: Chapter 4 Tool 2: Checklist for donations received from outside the UK - PDF PDF, 173KB, 1 page
Ref: Chapter 4 Tool 3: Using intermediaries - risk management checklist - PDF PDF, 215KB, 2 pages
Ref: Chapter 4 Tool 4: Using intermediaries - financial controls checklist - PDF PDF, 184KB, 1 page
Ref: Chapter 4 Tool 5: Physical cash transfers - checklist of key controls - PDF PDF, 208KB, 2 pages
Ref: Chapter 4 Tool 6: Cash courier agreement form - PDF PDF, 182KB, 1 page
Ref: Chapter 4 Tool 7: Cash payments record form - PDF PDF, 171KB, 1 page
Ref: Chapter 4 Tool 8: Using other charities or NGOs to transfer funds outside the UK - checklist - PDF PDF, 196KB, 1 page
Chapter 4 of the Commission’s Compliance toolkit, this guidance explains how charities can use formal banking systems wherever possible when holding, moving and receiving funds in the UK and internationally to ensure that charity funds are safeguarded.
It also covers working with other charities and NGOs and other more risky methods of moving funds, such as:
- money service businesses
- agents using alternative remittance systems
- payment services
- cash couriers
It gives practical advice for trustees on risk management factors and the need for appropriate financial controls and audit trails.
Published: 5 January 2011