Football Foundation Bank Guidance - October 2023

BANK GUIDANCE - GRANTS Reasoning In order to protect the Football Foundation and applicants from fraudulent claims, we will only pay grants into a bank account that fulfil a list of criteria that provides us with an appropriate level of assurance that the account we are paying into is a regulated and verified business account. Business bank accounts reduce the risk of fraud as they have a level of regulations that simply aren’t provided by personal accounts. Business bank accounts also protect our applicants. Personal accounts tend to have more frequent transactions which increases the risk of cyber fraud, which in turn risks personal information being stolen and used fraudulently. Business accounts have more protection for the personal information of applicants and/or signatories. These are the criteria for bank accounts that the Foundation will accept for the payment of grants: • Must be PRA Regulated by the Bank of England. PRA Regulated Bank Listing • Must be an Open Banking Regulated Provider. Open Banking - Regulated Provider Listing & allow for third party bank account verification. • Examples: o HSBC Bank PLC is on both lists so is an acceptable bank o Tide are on the Open Banking List but not the PRA Regulated List so would not be acceptable. o Unity Trust Bank is on the PRA Regulated List, and is on the Open Banking list via its clearing services relationship with NatWest (who are on the list). • If you are unsure on any bank account please contact financegeneral@footballfoundation.org.uk We also require evidence of these acceptable Bank accounts in order to make payment. This includes: • Paper Bank Statement – NB a blank statement with no transactions, will not be accepted • E-Statement Evidence ‘Must-haves’ • Account Name (Matching the Offer Letter) • Account Number • Sort Code • Address • Account type o Business Accounts o Community/Societies Accounts o Schools Accounts

Turn static files into dynamic content formats.

Create a flipbook