How to use this checklist

Use this checklist when a club is preparing to open a bank account or improve how it handles club money.

Club name: [Club Name]

Completed by: [Completed by]

Date: [Date]

Bank or provider being considered: [Bank / Provider]

Why a club bank account matters

A club bank account helps keep club money separate from personal money.

It also helps the club:

• Show members how money is handled.
• Apply for grants or funding.
• Pay venues, suppliers or event costs.
• Reduce pressure on one individual holding money.
• Keep basic records for future committee members.

Information usually needed by banks

• Club name
• Constitution or governing document
• Committee minutes approving account opening
• Names and details of signatories
• Club address or correspondence address
• Identification for signatories
• Contact details for authorised people
• Expected income and spending
• Source of funds, such as membership fees, event income, grants or donations
• Tax or organisation information if requested by the provider

Suggested committee decision

Record a committee decision that covers:

• The bank or provider the club will use.
• Who is authorised to open and manage the account.
• Who can approve payments.
• Whether one or two people are required for payments.
• Where statements and records will be stored.
• How often finances will be reported to the committee or members.

Good practice

• Use at least two authorised people.
• Record income and spending.
• Avoid running club money through one person’s personal account where possible.
• Report basic finances to members annually.
• Keep receipts or invoices for club spending.
• Agree spending limits for routine purchases.
• Record any cash collected at sessions or events.
• Keep grant money separate in the records if it must be used for a specific purpose.
• Remove account access promptly when someone leaves a finance role.

Basic finance record

Annual finance summary

At least once per year, give members a simple summary:

• Opening balance.
• Total income.
• Total spending.
• Closing balance.
• Any grants or restricted funds.
• Any significant equipment or assets held by the club.