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best account to keep healthy PTA balance in

(5 Posts)
mckenzie Fri 06-Sep-13 12:25:25

We have some money that is ear marked for a project that isn't taking off yet and I'm getting frustrated with it sitting in the current account earning nothing. HSBC (who the main account is with) have a Money Manager account that i can put it in which will earn a huge 0.05% at the moment. Even if i put it in a 3 month bond it will only pay 0.4%.
I don't mind opening an account with another bank or building society and the hassle that usually involves if it means we get some return on our money smile.
Any recommendations please gratefully received.

ModeratelyObvious Fri 06-Sep-13 13:37:44

How long can you tie it up for?

Are you able to take any risk at all with it?

OfflineFor40Years Fri 06-Sep-13 13:42:42

I'm treasurer for a couple of charities, one of which (not a PTA) has often has funds between £10-20k while we wait for the next project. I invest any excess with CCLA and we do get quarterly interest - I can't remember how much off the top of my head but it is better than the usual current account rates.

mckenzie Fri 06-Sep-13 15:04:41

I think max 3 months MO. The project is currently being sidelined because of other priorities, new head etc and it will be an addition to current equipment, not a replacement, so if it has to be delayed because of a bond expiry date for example, so be it.

Offline, I've contacted the CCLA - thank you

Talkinpeace Sat 07-Sep-13 20:39:05

or many of the small building societies do good deals for charities

I used to suggest the Co op, but not at the moment!!!!

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