GIVE Foundation is a charitable foundation that supports local communities, while GIVE Bank is a digital, not-for-profit bank providing services to individuals, businesses and charities. GIVE Bank is currently called GIVE Pay Limited and will change its name once licensed.

#name, #purpose, #non-profit, #structure, #GIVE_Foundation

GIVE Foundation is a registered charity in the UK, while GIVE Bank is a not-for-profit entity and a wholly-owned subsidiary of GIVE Foundation.

#charity_status, #non-profit, #GIVE_Foundation, #GIVE_Bank, #charitable, #not-for-profit

GIVE Bank is a GIVE Foundation project and 100% of funds donated for 'GIVE Bank' will be used to develop and support GIVE Bank and the development of its platform. Donations are also eligible for Gift Aid, adding 25% to contributions from UK taxpayers.

#donation, #Gift_Aid, #support, #fundraising, #purpose

All surplus distributable income is donated to GIVE Foundation, which distributes funds to small charities that support community-focused initiatives.

#charity, #community_support, #donations, #GIVE_Foundation, #local_initiatives

100% of 'General Donations' get distributed to small charities doing amazing things in their communities. 100% of funds donated for 'GIVE Bank' will be used to develop and support GIVE Bank and the development of its platform. The Foundation takes nothing.

#donation_usage, #charity, #funding, #allocation

No, donations are optional. However, accounts that contribute through donations can receive additional benefits - We're here to encourage, facilitate and reward generosity.

#donation, #optional_giving, #account_benefits, #interest

GIVE Bank offers Individual, Joint, Under 18s, Community Club, Charity, and Business Accounts.

#account_types, #banking_services, #business, #individual, #community

No minimum balance is required. Personal accounts are free, with an optional 50p support fee for enhanced features. Business and large charity accounts may incur fees.

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GIVE Bank is in the pre-licensing phase and needs to complete it licensing process before we can take on customers

#account_opening, #timeline, #licensing, #availability

Yes, as long as identification requirements are met, residency or citizenship does not limit access to GIVE Bank accounts.

#non-resident, #citizenship, #eligibility, #international

Proof of identity and address with two separate documents, and not have a fraud record. Bankruptcy or poor credit may lead to refusal for certain account types and age-related restrictions exist for some accounts too.

#eligibility, #account, #platform, #process, #structure, #restriction, #kyc

Yes, GIVE Bank plans to offer payroll and expense management services certified by HMRC in the UK.

#business_services, #payroll, #expense_management, #HMRC

Please get in touch with us at hello@givefoundation.co.uk to discuss investment opportunities. Investments are accepted once pledges collectively reach a minimum funding threshold of £1.2 million.

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There is no minimum for individual contributions, but we'll begin development once the total amount pledged reaches £1.2 million.

#investment, #minimum_amount, #threshold, #funding

GIVE Bank will initially focus on traditional banking, with plans to add investment products as licensing allows.

#investment_products, #banking_services, #future_offerings

GIVE Bank will be regulated by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) in the UK, with GIVE Foundation governed by the Charities Commission.

#regulation, #PRA, #FCA, #Charities_Commission, #compliance

GIVE Bank exceeds regulatory security standards, using biometric authentication, location-based security, and machine-learning transaction monitoring.

#security, #data_protection, #biometric, #fraud_prevention, #safety

Yes, once licensed accounts at GIVE Bank will be protected up to £85,000 by the FSCS in the event of bank failure.

#FSCS, #insurance, #account_protection, #financial_security

GIVE Bank offers higher interest rates for users who donate through the platform, rewarding generosity.

#interest, #charitable_giving, #rewards, #generosity

Unlike traditional banks, GIVE Bank is a not-for-profit institution that reinvests all surplus funds into charitable causes.

#unique, #non-profit, #mission-driven, #community_impact

Initially, loans and overdrafts will not be available until licensing permits these services.

#loans, #overdrafts, #credit_services, #future_services

GIVE Bank accounts will be accessible via native mobile apps. We envisage this being 15 months from funding following the development and license process.

#mobile_access, #online_banking, #accessibility, #platform

No, GIVE Bank is not anti-establishment. We are pro-community and busuesses, and believe we can offer a people-focused banking solution that will both facilitate commerce and make a lasting change in our communities.

#stance, #mission, #belief, #pro-community

GIVE Bank primarily supports sovereign currencies, with plans to release GIVE Coin, a 1:1 sovereign-backed cryptoasset for cross-border transfers.

#cryptocurrency, #GIVE_Coin, #sovereign_currency, #digital_assets

GIVE Bank keeps operational costs low as a digital bank, with revenue from account fees and treasury income.

#sustainability, #growth, #revenue, #digital_platform