What bank will open account for one-off event

M

Mrs Vimes

Registered User
Messages
1,125
Hi All,
Does any know of a bank which will open an account for a one-off event (eg a school debs)?
Apparently the local Credit Union no longer does so and we are having trouble getting to speak to a person in any other bank.
It will be used just to collect ticket money (deposit in next 2 weeks and balance over next 6 months) and pay suppliers and then closed off or handed on to the next year if necessary.
Thanks in advance
Sybil
 
Why tell them it's for a once off? Just open it, use it for what you need and then close it.

Note if you get into handing it off, it will get more complicated as you are changing signature etc on the account so that will need more paperwork when the time comes
 
Thanks for the replies.

@Blackrock1 We were wondering whether hotels, etc would accept payment from a Revolut account?

@Peanuts20 That may be a solution but I get the impression the difficulty arises more because banks are so burdened with KYC they need a purpose for everything and if it was supposed to be an ongoing account they would likely ask for a permanently involved person whereas it's always just 6th years without any input from the school.
 
Set up a Sum Up account. It now comes with IBAN, payment card and banking.

You can also sell the tickets for the event and have full report facility.

Cost is 1.69% of sales

I currently operate three sumup accounts for different clubs including a school union
 
Thanks so much for the advice - the young people involved have decided on the advice of last year's committee to use a company which operates in this area - the co look after the bookings and sell the tickets etc, apparently the cost ends up about the same as the hotel gives the co a better deal.
 
Mrs Vimes said:
@peemac thanks for the info about Sumup - I thought they were only for accepting payment by card.
Click to expand...
They changed last year. It's effectively a full bank at this point. Pm me your email address and I can send you a presentation I did for a group of clubs that gives you a step by step guide.
 
Careful with fees with Revolut. Can add up quite quickly.
Better to stick to the likes of CU or banks.
 
Thanks for the help guys - the kids have gone with a company which looks after ticket sales and paying vendors so no longer needed.
 
You must log in or register to reply here.
Menu
Log in
Register