Why your bank account or statement could cause your application to be unsuccessful
We get a lot of applications, and many of them are for hugely worthwhile projects. Unfortunately, sometimes we can’t begin to look at an application because the application isn’t complete or correct.
One of the most common mistakes applicants make is providing the wrong bank statement information. We ask for a bank statement so we can check the account you want us to pay the funding into. If the statement doesn’t meet our requirements, your application will be rejected, and you’ll need to reapply once you have these set up. So, what do we need?
- A bank account that meets our needs in our Financial Controls and Financial Governance Guidance
- A bank statement that meets our needs.
A bank statement or bank welcome letter. Both need to be dated within the last 3 months. Ask yourself can you see all this information on the statement or welcome letter:
- your bank logo
- your organisation's legal name
- the address the statements are sent to
- your bank's name
- the account number and sort code
- the date the letter/statement was issued.
Do you accept transaction listings?
Yes, we can accept transaction listings, but only if they include everything that is listed above.
Does my organisation name on the bank account need to be the same as the organisation name I’ve given on the application form?
Yes, it must be the same. The organisation name on the account must also be the same as what is registered on any registration websites such as Charity Commission or Companies House. If not, your application will be rejected.
Do you accept Credit Union accounts?
Yes, provided the account meets our needs in our financial controls and financial governance. We need a statement or welcome letter to show both the account number, sort code and member number to ensure the payment goes into the correct account. Often, we see statements which only show the member number, or the group have written the account number onto the statement. We cannot accept statements which are incomplete or have been amended by hand.
So, don’t forget if your bank statement, welcome letter, or transaction listing isn’t correct we can’t assess it and your application will be rejected.
If you’re unsure about anything, please don’t hesitate to contact us as we’re here to help.