New guide helps charities make sense of modern banking

Demystifying modern banking for charities and not-for-profits is the aim of a new guide published by HSBC in partnership with CFG.

HSBC’s ‘Modern banking guide’ has been published for charities, voluntary organisations, faith and community groups, in partnership with CFG.

The guide helps organisations make informed choices about banking services in an evolving world. It covers the different types of banking services that are available to organisations, including digital payments and virtual cards. It also shares advice on security risks and fraud prevention.

Caron Bradshaw OBE, CEO, CFG, comments:

“HSBC’s modern banking guide comes at an important time for charities and voluntary groups. The way we collect and manage money has evolved rapidly in the past decade and we know from speaking to trustees and other charity leaders that it can be a challenge to adapt and keep up.

“This new guide demystifies banking services in an easy-to-read format. It also explains how modern banking services can present opportunities to fundraise, reduce costs and improve governance and transparency. For that reason, CFG is proud to have partnered with HSBC to launch this new guide.”

Leo Jones, HSBC, comments:

“We’re delighted to have worked in partnership with Charity Finance Group to create a Modern Banking Guide for those involved with the running of charities, voluntary organisations and community groups. Whether you bank with HSBC or not, we hope it will serve as a valuable resource to help understand the latest developments and get a clear view on the best ways to meet an organisation’s banking needs in a fast-changing world.

“Innovations in technology, ecommerce and communications present fantastic opportunities for charities, while the growing expectations of the public around ease of payment, strong governance, security and sustainability increasingly shape donor recruitment and retention.

“This guide aims to demonstrate how new banking services can innovate fundraising methods, simplify transactions, reduce costs and improve governance and transparency. It outlines some of the ways modern banking can help trustees run their organisation safely and efficiently and provides hints and tips to help them get the most out of new services.”

Download and read HSBC’s modern banking guide.

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