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Everyday banking

HELP AND SUPPORT

We're here to help with your questions about banking and finance for your charity.

Glossary of terms

A glossary of the terms and definitions we use is available to view here. These definitions apply to each term, unless we clearly explain otherwise.
  • When is my CAF Bank Account considered to be dormant?

    A dormant account is where no transactions have been made for more than 24 months. Transactions include withdrawals from and payments into an account, but interest credited to an account, or any audit fees applied, aren’t counted as transactions.

  • Why is CAF Bank closing my account(s)?

    Our priority is to safeguard our customers’ money from the risk of financial crime. We periodically review customers’ accounts and, as a fraud prevention measure, close the account if it hasn’t been used for two years. Dormant accounts are at risk of attempted fraud because holders of dormant accounts are less likely to notice a fraudulent transaction.

  • Shouldn’t notice be given before closing my account?

    If one of your accounts becomes dormant, we’ll let you know by letter. We’ll give you two months’ notice of our intention to close your account, to give you time to make alternative banking arrangements.

    You can find details of our account closure policy in section 5 of our our General Terms and Conditions.
  • How can I stop my account(s) from becoming dormant?

    It’s quick and easy to prevent your account becoming dormant. You can make a withdrawal or credit by cash or cheque, withdraw cash at an ATM machine or make a Business card payment. If you’re not able to make any transactions, it may be because your account has been inactive for more than two years, which has triggered the closure process.

    How can I stop the account closure process and restore my account facilities?

    Unfortunately, once you have received the letter informing you of the closure of your account, the decision can not be reversed and account facilities can not be restored.

  • I’ve received a letter from CAF Bank advising me of the closure of my account(s) due to inactivity. Can you do this?

    Every financial institution has discretion to close a bank account if appropriate, and where reasonable notice has been given.

  • The account closure notice letter explains that a cheque will be sent with the closing balance. What if I don’t have another account elsewhere?

    If your organisation doesn’t have an account elsewhere, we’d recommend you make alternative banking arrangements as soon as possible. We may consider requests to extend the notice to close period for an agreed length of time to give you time to arrange new banking facilities.

OUR TEAM

Our expert team is here to help with any questions you have about charity banking.

Phone
03000 123 456
(Monday to Friday, 9am-5pm, except English bank holidays)

CAF Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register number: 204451). CAF Bank Limited Registered office is 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ. Registered in England and Wales under number 1837656. 

CAF Financial Solutions Limited (CFSL) is authorised and regulated by the Financial Conduct Authority under registration number 189450. Authorisation can be checked on the financial services register at www.fca.org.uk. CFSL Registered office is 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4TA. Registered under number 2771873. CFSL is a subsidiary of Charities Aid Foundation (registered charity number 268369).