About Us
Who are we
Trust and Charity is a service that helps trustees and Charities find and open bank accounts with various partner banks, but it does not act as a bank itself or hold deposits in trust.
This service offers a Direct Model Through our partner Cascade Cash Management – this is where customers become direct customers of the savings account provider, with onboarding conducted by the bank or building society in question. This is the model we follow providing our customers with the strongest regulatory and depositor protection available.
This service acts as an intermediary, streamlining the account opening process with multiple
institutions through a single application process
Protection
This service offers you access to the whole of the UK banking market. You can choose to have full FSCS (Financial Service Compensation Scheme) Protection. This is different for investments but for cash deposits currently FSCS protects eligible deposits with banks, building societies and credit unions that are authorised by the Prudential Regulation Authority (PRA) up to £120,000 per authorised institution.
This means that how a Trust or charity spreads its money can affect the amount of compensation it is entitled to.
It’s important to be aware that some banks and building societies could be part of the same banking group and so share a banking licence. This is important as FSCS protection is £120,000 per person per banking licence.
