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.

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 →