ECNL and PILnet are pleased to launch a series of overviews of banking conditions in European countries. These overviews aim to support civil society organizations (CSOs) that wish to open a bank account in the selected countries or compare conditions between these countries. It aims to help CSOs navigate through the organizational banking requirements which are becoming increasingly complex. The countries and issues in these overviews have been selected based on requests lodged to our organizations by national and international partners. New profiles will be uploaded on a rolling basis.
To compare easily between countries, check out our Nonprofit Banking tool!
Our overviews provide information on the following issues:
1. Requirements for opening an organizational bank account, including:
- Whether physical presence of a legal representative is required;
- Specific requirements related to organization’s internal operation, such min./max. annual turnover, nationality of statutory representatives etc.;
- Who is authorized to open organizational bank account;
- General information about the process, including timelines.
2. Banking activities, including:
- Customer due diligence requirements;
- Monitoring criteria for suspicious transactions;
- Limitations to bank transactions and transfers to certain jurisdictions.
3. Obligations and reporting requirements:
- Reporting to regulatory and public authorities by banks;
- Protection of privacy of clients’ information;
- Reporting to public authorities about civil society banking.
You may also reach out to us directly at [email protected] or PILnet. For more information, you can also check out our Legal Profiles with information on registration and operation of CSOs in selected countries.
Partners:
Disclaimer: Partnering firms participating in this research are not liable towards third parties for the accuracy of the information contained in the European Banking Guide for Nonprofits Page. The research was carried out in 2022 and responds to the regulatory framework on organizational banking in this time period.