How to open a group bank account

Why have a bank account?

Having a bank account keeps the accounts transparent. If the group aims to bank cash promptly, and make payments out by cheque, then members do not have to keep money at home. The service given is clearly accountable. The more understandable the system, the easier it is for rotation of members taking on this service.

Having a bank account opens up the opportunity for members to pay by standing order.

The decision to open an account will be taken by the group conscience. It is suggested that it is useful to keep a record of all group conscience decisions. The bank may require a copy of the minutes of the meeting that made the decision, and they can be given a copy of that page.

New or small groups will not necessarily have the energy or members willing to do this service. Until that point, it is suggested that a cashbook, with a clear written record of each transaction of money received or paid out, is signed by two members. The CoDA World Fellowship website recommends that group treasurers use the CoDA Meeting Funds Record.

Which bank?

This decision is likely to be based initially on convenience: is there a bank or Post Office that’s convenient for one or more members willing to do the service, to pay the group’s seventh tradition in? Does it offer the right kind of account?

What kind of account?

The requirements of a group are provided by accounts sometimes called a club account, or a treasurer’s account. These offer an account which has a cheque book and savings account without interest. There is no facility for the group to borrow money.

It is suggested that good practice is to have an account requiring two signatures on cheques. This ensures that financial service is shared. To cover for absences and holidays, it is suggested to set up an account with three members able to sign cheques, and that any two of the three may sign cheques.

What is involved in setting up the account?

The requirements of setting up this kind of account, are just as detailed as any other kind of account. Those coming forward as signatories will have to produce evidence of their identity (usually a full passport or full UK driving licence), as well as documented proof of their address. It is likely that they will need to visit the bank and produce these documents in person. There may be other requirements too. All these details should be in the bank’s application pack.

The group is likely to be asked produce evidence of CoDA’s business, or aims and objectives, or constitution. These points may be covered by giving them leaflets that have the steps and traditions printed on them, showing the Big Book, and inviting them to look at this website.

It is beyond the scope of these guidelines to be able to foresee all possible questions that may be asked. It is suggested that if the applicants themselves cannot provide answers to particular points raised by the bank, to seek assistance from a neighbouring group or the Region, or to email the CoDA UK Treasurer at