Author Topic: Expedition 'club/company' and bank accounts  (Read 273 times)

Offline andrewmc

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Expedition 'club/company' and bank accounts
« on: March 14, 2019, 09:10:10 pm »
I am looking to set up a new expedition bank account, rather than running it out of a club account, but to do so the expedition has to 'exist' in the sense of having paperwork. I could set up an undemocratic unincorporated association or even a company limited by guarantee, but what do other expeditions do?

Offline 2xw

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Re: Expedition 'club/company' and bank accounts
« Reply #1 on: March 14, 2019, 09:57:46 pm »
I'd be really interested what the big expeds actually use cos some of them spend £30-60k

A Santander treasurer's account requires you have personal ID, a constitution for your organisation, and an application from two members of a committee but that's it - doesn't seem too onerous.

Offline alastairgott

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Re: Expedition 'club/company' and bank accounts
« Reply #2 on: March 14, 2019, 10:53:20 pm »
It's handing off when you change expedition leaders/groups that's the tricky bit. I know York did have an expedition account, but don't know whether that's still going.

It depends on your reason for setting up the account, if it's just a way of holding the money till you spend it in the same year, then it's probably not worth having an account.

If your looking at creating a surplus in one year and handing it off to the next year, then that's where it becomes useful. Ie if you want to keep adding money in incase you have to replace fixed ropes, replace a generator, or buy loads of hangers that you don't buy every year. then you'll probably want to set up an account.

If your expedition is in it's first year to a new area, then it's probably not really worth setting up an account, Large outlays and unknown prospects are probably two reasons why you might consider to just get the treasurer to set up an "easy access savings account" with their own bank.

It's very easy to set one of these up, I've opened a few up on my Halifax account, no forms and no signatures. I guess there's just trust if your the exped treasurer, but that goes without saying. Theres only so much "misc metalwork" someone can buy.