CAF Banking - Money in general
Stephen Rainsbury
http://www.cafonline.org/default.aspx?page=6880
From what I can make out they are a charities only bank. They pay interest
on the balance in your account and give you online banking. To get money out
I put in a request and e-mails are sent to the other signatories, one of
whom has to log in to approve the transfer and that's it!
It seems too good to be true.
The main reason I want online banking is I am planning to go over to direct
debit for subs starting from September, so I need to be able to go online to
check whets being paid without having to queue up in Scamander for ages each
month.
--
Stephen Rainsbury
DESC Gillingham, Kent
www.gillinghamscouts.org.uk
Ewan Scott
"Stephen Rainsbury" <nos...@rainsbury.net.text> wrote in message
news:hv7Zn.103441$vB5.85429@hurricane...
> Does anybody use CAF bank?
>
> http://www.cafonline.org/default.aspx?page=6880
>
> From what I can make out they are a charities only bank. They pay interest
> on the balance in your account and give you online banking. To get money
> out I put in a request and e-mails are sent to the other signatories, one
> of whom has to log in to approve the transfer and that's it!
>
> It seems too good to be true.
>
> The main reason I want online banking is I am planning to go over to
> direct debit for subs starting from September, so I need to be able to go
> online to check whets being paid without having to queue up in Scamander
> for ages each month.
>
rather than Santander.
There do appear to be one or two small benefits, I'll need to look into this
but I was sure that we could check our Barclays accounts on-line.
Ewan Scott
rocoho
Our DT uses on line checking to monitor all dist accounts with HSBC
From memory I thnik its expensive to do direct debit and not viable
for small outfits to set up ,
Standing orders is possible and much simpler to set up , we use it as
standard payment method for all our explorer units .
bill
>
> - Show quoted text -
Is d/d a good idea? (I don't know, but I thought you needed some
formal legal stuff in place- and insurance- in case the bank or you
take money that you shouldn't have done)
Whereas of course a standing order is pushed by the parent not pulled
by you.
(this is a genuine question as I don't know the answer but have
possibly been misinformed)
Paul Harris
<ada9214a-dd73-4444...@j8g2000yqd.googlegroups.com>, bill
<eight...@hotmail.com> writes
>Is d/d a good idea? (I don't know, but I thought you needed some
>formal legal stuff in place- and insurance- in case the bank or you
>take money that you shouldn't have done)
>Whereas of course a standing order is pushed by the parent not pulled
>by you.
>
>(this is a genuine question as I don't know the answer but have
>possibly been misinformed)
You are correct D/D isn't the best way unless you are a business,
standing orders are the way to go for this sort of thing.
--
Paul Harris
Gooders
> Does anybody use CAF bank?
>
> http://www.cafonline.org/default.aspx?page=6880
>
> From what I can make out they are a charities only bank. They pay interest
> on the balance in your account and give you online banking. To get money out
> I put in a request and e-mails are sent to the other signatories, one of
> whom has to log in to approve the transfer and that's it!
>
> It seems too good to be true.
>
> The main reason I want online banking is I am planning to go over to direct
> debit for subs starting from September, so I need to be able to go online to
> check whets being paid without having to queue up in Scamander for ages each
> month.
>
think, difficult to implement for a charity, not to mention expensive.
S
Chris.5th
standing orders are easy to implement... loads of groups do it...
the problem? keeping track of them and getting them changed!
subs go up the following year... whole new set of SOs...
Gooders
> On 8 July, 22:32, Gooders <good...@anti.spam> wrote:
>> I assume that you mean standing order? The process is different and, I
>> think, difficult to implement for a charity, not to mention expensive.
>>
>> S
>
> standing orders are easy to implement... loads of groups do it...
>
> the problem? keeping track of them and getting them changed!
>
> subs go up the following year... whole new set of SOs...
>
up. My second sentence referred to DDs.
Stephen
Gooders
> Does anybody use CAF bank?
>
> http://www.cafonline.org/default.aspx?page=6880
>
> From what I can make out they are a charities only bank. They pay interest
> on the balance in your account and give you online banking. To get money out
> I put in a request and e-mails are sent to the other signatories, one of
> whom has to log in to approve the transfer and that's it!
>
> It seems too good to be true.
>
> The main reason I want online banking is I am planning to go over to direct
> debit for subs starting from September, so I need to be able to go online to
> check whets being paid without having to queue up in Scamander for ages each
> month.
>
scheme is administered by CAF.
Online banking for charities is interesting. I was treasurer of a
charity a few years ago and we used Alliance and Leicester. In common
with most charities we required two signatures on all cheques. I decided
to use online banking in order to manage the payroll, we had four paid
staff, and I wanted to pay them via BACS rather than cheque. The other
Trustees were uncomfortable with this because it meant that I could move
funds anywhere without any second authorisation. In the end we operated
on trust but I'm not sure how that would square with POR or even the
Charities Commission.
Stephen
jona...@gmail.com
CAF requires two mandated officers to approve transactions.
Stephen Rainsbury
news:40813dce-16fc-46d7...@q12g2000yqj.googlegroups.com...
On Jul 8, 7:55 am, "Ewan Scott" <ewansc...@btinternet.com> wrote:
> "Stephen Rainsbury" <nos...@rainsbury.net.text> wrote in message
>Standing orders is possible and much simpler to set up , we use it as
>standard payment method for all our explorer units .
Thanks that's useful to know, I will look into that.
Stephen Rainsbury
news:dfb62ee9-e3d6-4fd0...@g19g2000yqc.googlegroups.com...
On Jul 8, 11:04 pm, Gooders <good...@anti.spam> wrote:
> Stephen Rainsbury wrote:
>CAF requires two mandated officers to approve transactions.
But that can be done electronically can't it?
GAGS
The correct term in use for charity accounts is dual authorisation
which doesn't neccessarily mean two signatures.
In your situation I might suggest you did have authorisation to make
payments and with your online approval that in effect was dual
authorisation. Problem is could you prove it!!? Hence there was, as
you say, an element of 'trust' that you would act with the approval of
the trustees even though on occasions this wasn't specific approval.
How would it square with POR? It would not!
IIRC, POR specifies two signatories for withdrawls/payments from
scouting bank accounts. It does not technically specify 'dual
authorisation', which is what 'two signatories' is a particular form
of.
Of course POR is behind the times and poorly written. How many times
do I have to keep saying that! ;-)
These days tt really should say 'dual authorisation'!
AIUI the wording in POR effectively excludes scouting entities from
fully operating/using online banking.
IIRC, CAF for online banking require an authorised person to initiate
the transfer/payment out of the account and another authorised person
to complete and approve the transfer/payment. Dual authorisation thus
is employed as recommended/required by many organisations and the CC.
Some organisations need to move with the times!
Of course one should also employ additional security measures
covering, for example, security of log-in/passwords - it's amazing how
many people swap passwords, or write them down, and it's not unheard
of people in a family knowing other family members PINs - and a rule
that no two authorised people should be related. I've seen in a number
of groups where there's husband and wife/partner or other family
members scouting for two of them to be authorised signatories. When
GAGS and his partner were scouting in the same group years ago, GAGS
took himself off the authorised signatories list. Etc. Tarquin and
Chardonnay have never signed a scouting cheque together! :-)
GAGS