Changing the community's bank account: steps and pitfalls

Many communities pay €200–400 a year in fees out of pure inertia. Switching bank is easier than it looks.

When it is worth it

If you are paying monthly account charges, a fee per direct debit or a fee for cash deposits, ask around: some banks offer community accounts with no fees, or close to none.

The steps

1. The resolution: in small communities it is enough to agree it at the meeting and record it in the minutes (simple majority).
2. Opening the account: the chair goes in with the minute appointing them, the community's tax number and the minute of the resolution.
3. Migrating the direct debits: do not close the old account until the direct debits have gone through cleanly for a month on the new one.
4. Update the IBAN wherever you have it on file, and tell the neighbours.

The classic mistake

Closing the old account while direct debits are still attached to it: returned payments, fees and a month of chaos. Overlap both accounts for 30 to 60 days.