Step 8: Open a Bank Account

Once you’ve got your ABN and a group structure, you can open a bank account in your charity’s name. Most banks will ask for:

• ✅ A copy of your constitution or rules
• ✅ ABN details
• ✅ Personal ID from the people signing (called signatories)
• ✅ Minutes of a meeting where the group agrees to open the account

Choosing a Bank

You can choose any bank or credit union, but some charge monthly fees — and others don’t. Community banks or ethical banks may be more supportive of small charities.

Important Tips

• 🧾 Keep the account separate from your personal account.
• 👥 Make sure at least two people have to sign for money to leave the account — this protects everyone involved.
• 🧩 Save your bank letters or setup forms for later reporting.

📄 Download Sample Bank Minutes 📄 Download Sample Bank Minutes

Next Step

Once your bank account is set up, you’ll be ready to start collecting donations and applying for funding.

Go to Step 9: Register with Grant & Donation Portals →