Each group has an allocated section within the SU's main bank account: this is the only 'account' that groups are allowed to use. This means that your student group does not have a dedicated bank account with its own unique sort code and account number - instead, all income goes into the main SU bank account and it then allocated to the relevant section for your student group, all linked to your unique group ID (the three digit number).
No other external accounts can be used to hold group funds, including exec members bank accounts.
Our finances processes work so that there is minimal need for the SU's bank details: e.g.
- Our app deals with all payments out and expenses.
- Square card readers can be borrowed for events / payments in, which are linked directly to the SU account.
- Event tickets sold online should be via our partner websites only, as they have a process for ensuring the income is allocated in the right way.
- Invoices can be sent out from our accounts team for your group when needed, following the sponsorships / donations process.
Of course, there are some times when the account details are needed. If this is the case, you will need to get in touch with us explaining who is paying into the account, when, why, and your expected income. This so that we can ensure you have the right information and we know to expect the money and its amount so that we can ensure it is allocated correctly to your group or get in touch if there are any issues.
For any issues relating to accessing the links above, please get in touch here.
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