Groundwork UK, the group of environmental regeneration charities, is planning to set up joint banking arrangements for its members in a bid to secure better terms.
The network, which has 35 member charities and works to improve neighbourhoods, has developing the plans with the Co-operative Bank. It hopes the resulting deal will prompt all its members to join up.
"We’ve developed a strong relationship with our bank and we’re talking with it about the benefits of a joint banking arrangement," said Graham Duxbury, development director of Groundwork UK.
"They’ve said the more of our members bank with them, the more they can do for us. We will all get better rates while maintaining separate bank accounts."
Barbara Hodgson, head of the northern charity and social enterprise team at the Co-operative Bank, said: "Most charities are wasting money on their banking in one way or another. Many aren’t getting the best rates or the right services because they’re using standard high-street accounts.
"Other charities have considered clubbing together to get good rates. Federated charities like Groundwork can do it, but we’ve also talked about the idea with councils for voluntary services representing several local charities."