Is money in a charity savings account safe?

Yes, if the provider you've chosen has a UK banking licence, your money should be protected up to £85,000 by the Financial Services Compensation Scheme (FSCS) . That said, charities do need to meet certain eligibility criteria to be able to claim compensation with the FSCS and eligibility is assessed on a case-by-case basis. But most charities are covered.

Do charities pay tax on savings?

No, as a charity you can get certain tax reliefs. This means you don't have to pay tax on most types of income, including savings interest, as long as you use the money for charitable purposes.

How do I apply for a charity savings account?

You can often apply for a charity savings account online or you might be able to do so over the phone. You will usually need to provide some basic details about yourself as well as your charity name and address.