Interest Earned by charities

RATE NOTIFICATION

Effective 2nd August 2018 the rate paid on the Giveall Barclays Banking platform is 0.60%.

Interest is payable quarterly in arrears.

The interest rate reduction is due to market conditions but it is anticipated that the rate will increase as the consolidated balance grows.

 
Most charities are missing out; some more than others. They may not have enough in any single account to earn interest and/ or the time and expertise to manage their accounts to optimise earnings. On top of that, charities with larger balances earn higher rates of interest and many don't earn any interest at all. For those charities that do earn interest, the rates are generally disappointing and the conditions inflexible and impractical.
 
With Giveall, all charities earn the same, higher rate of interest on their deposits, regardless of the amount in their account or the length of time it's in there. It's higher because all charities benefit from the consolidation of their funds within the Giveall platform and the fact that Giveall is intent on returning all benefits to the charities over any profit motive.
 
The maximisation of interest is an important task for the Finance Director or Treasurer of any organisation. Unfortunately, for many of them, the effort and expense of successfully monitoring and maximising their cash resources effectively and efficiently is considered too great or too difficult. This is especially so with smaller charities.

The ground-breaking Giveall Platform (incorporating the Giveall Barclays IFS) gives all charities equal access to higher interest rates and easy management of their funds. It's efficient, accessible and highly profitable. The demands on the FD or Treasurer's time are removed. If the money is within the Giveall Platform, for however short a period, it's earning higher interest and the charity can move it around without losing out (and, as a further bonus, without transfer fees).

£500 earns the same rate of interest as £500million on the cash management platform. Obviously, the consolidated balance, on the cash management platform earns a higher rate of interest than any single amount. As a starting point, our base rate is higher than others and, on top of that, all charities then benefit from the consolidation of all of the funds belonging to the other charities on Giveall.
 
Giveall's state of the art Cash Management solution not only maximises interest for all charities but it removes transaction costs as well. Charities are therefore earning money they weren't before and they have therefore dramatically reduced the cost of operating their accounts as well.
 
All users that register with Giveall have a Giveall Online Bank Account created automatically. These accounts operate seamlessly and quite separately from the users' regular bank accounts. This means they can receive the full benefit of the Giveall Banking Services' platform without having to change their existing banking provider.
 
We are also able to provide additional separate, linked accounts for charities who operate branches or charity shops.
 
Please note that unless a charity provides confirmation that the charity is entitled to be paid Gross Interest, the default position will be that Withholding Tax will be deducted and only Net Interest will be paid on the linked accounts. This is dealt with in the Giveall Terms of Service.