CAF Bank: Charities focusing more on internet banking
Date posted: 02 Dec 2009
Internet banking appears to be growing in popularity among some UK charities, new figures suggest.
The CAF Bank saw nearly 35,000 transactions conducted electronically during the month of October, according to statistics published by the organisation.
This is said to have amounted to one-third of the overall transactions overseen by the bank during the four-week period.
However, the CAF Bank also notes that more than 72,000 cheques were processed during this time.
Internet banking appears to be growing in popularity among some UK charities, new figures suggest.
The CAF Bank saw nearly 35,000 transactions conducted electronically during the month of October, according to statistics published by the organisation.
This is said to have amounted to one-third of the overall transactions overseen by the bank during the four-week period.
However, the CAF Bank also notes that more than 72,000 cheques were processed during this time.
Peter Mitchell, chief executive officer of the CAF Bank, believes that charities may be continuing to make use of cheques because they can be set up to require dual signatories.
He added that this can help organisations to "retain better control over funds and prevent the misuse of them".
Meanwhile, the Charities Aid Foundation has recently offered guidance to consumers, outlining the ways in which they can donate money to not-for-profit groups in an effective manner. 
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