Cambridge & Counties Bank has rolled out a banking service for UK charities with deposits of over £1m.
The service includes specialist customer support, dedicated contacts and a simple application process.
Fixed rate charity savings accounts are currently available with rates up to 4.60% gross/annual equivalent rate (AER).
Research by Cambridge & Counties Bank found interest rates were the main factor for charities when choosing an account, cited by 97%.
The type of account came next at 54%, followed by the reputation of the bank at 52%.
Over 40% said they found it hard to find a suitable savings account in the wider market.
Additionally, research found that nearly 40% said an easier application process was a top priority, while half said short-term fixed rate accounts, under two years, fit their needs best.
The bank had more than 1,300 charity customers with around £115m in deposits as of January this year.
Sarah Barker, chief commercial officer at Cambridge & Counties Bank, said: “We have been serving the needs of the UK charity sector with straightforward banking for many years.
“It is clear our proposition has become increasingly attractive to more and more charities, leading us to formalise a new proposition for larger charities looking for a more bespoke service.
“Charities can be a differentiated customer with specific banking requirements and a need to speak with knowledgeable staff.”
Barker added: “This relationship-based approach underpins our wider business model and is a fundamental part of our new service.”
