Club accounts

W

watsgone

Guest
Hi,
Just wondering if anyone can help me out.
I am in a small club and appartently we have a club account. I never hear of an type od club account before, I thought it was a joint account with a number of names.
Its all cheques etc, as the treasurer is away i was asked to check if the club phone(used to let members know of meetings etc) can be topped up using the text top up facility that current accounts have.
This probably won't work. But if someone could explain club account to me that will be brillant.
 
A club a/c is set up on a roughly similar basis to a business a/c. A copy of the AGM minutes showing elected officials has to be handed in with a/c opening.
A form also has to be drawn up showing who the signatories will be on the cheques/withdrawals etc & if the a/c needs 1 sig, 2 sigs or all elected officers. This form will have to be signed by all these officers along with anti-money laundering requirements for all those named.
Txt top up will normally work if it's registered for it. Mobile phone doesn't know who's topping it up as long as you've got the pin.
 
So I should check with the bank regarding the top up situtation.
Thank you.
 
If you are not one of the people registered to sign on the a/c your bank will not facilitate you.
Also unless the a/c has been set up as "Repayable to either" meaning that only 1 signature is required you will not be able to be issued with an ATM card. The way to set up TXT top up is on the ATM.
Perhaps the best idea is to chat to your bank, but from what you said at first it didn't look likely to me that you are one of the signatories on the club a/c.
 
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