DEADLINE EXTENDED: New Pilot Project to Improve Access to Banking Services: First Step

We have extended the deadline for our financial access survey to Wednesday November 21st! Please help us launch this new project with Crown Agents Bank by filling out our survey at: bit.ly/CrownAgentsBankProjectSurvey

The Charity & Security Network’s efforts to address the financial access problems of international nonprofit organizations (NPOs) has brought us into contact with banks that are actively participating in efforts to find solutions. One of these is Crown Agents Bank (CAB), a UK-based correspondent bank, which has proposed a pilot program that would facilitate introductions between NPOs and banks in the 50 countries it serves. CAB provides extensive foreign exchange services and works with banks in 50 countries to build their capacity to participate in the complex 21st century international financial system. By facilitating introductions for NPOs and its banking contacts, CAB could help NPOs establish and maintain accounts with banks that are known to have adequate due diligence systems. This would increase the confidence of banks involved in the transfers and hopefully reduce delays and other problems.

The first step in launching this project is a pilot in 4-6 countries where NPOs are experiencing the most problems. C&SN invites you to help identify these countries by filling out this survey: bit.ly/CrownAgentsBankProjectSurvey

More about this pilot project:

CAB does not provide retail banking services. Instead, as a correspondent bank it functions as an intermediary that facilitates international transfers between sending and recipient banks. Because of its history as a representative of the British government during the colonial period, it has extensive contacts in the developing world. While CAB cannot guarantee that an NPO would get an account or reduce delays in transfers as a result of its introductions, it can smooth the way through communications and education for banks on how NPO accounts function.

The first step in launching this project is to identify the 4-6 countries where CAB works that are most difficult for NPOs to get transfers through or maintain accounts.C&SN is asking for your help in identifying these countries by filling out this confidential survey.

The survey asks you to rate the level of difficulty in transferring funds – you can just answer for the countries where your organization operates. Please complete the survey by November 21st 2018.

Once the pilot countries have been identified we will be back in touch to offer opportunities to participate in this project.

Please let us know if you have any questions by emailing [email protected].