Thanks for sharing this. I that info about good financial practices are being shared here. I have two questions that you might be able to answer.
First, what specific options are available? As an individual I can open a high yield savings account with Ally (or I can refer to NerdWallet for a list of other high yield savings accounts). But If I am running an NGO I can’t legally use accounts intended for individuals, right? Could you provide a list of options?
Second, these ideas are fairly limited to cash held in USD in the United States, right? For organizations that have operations (and thus which keep funds) in other countries and other currencies, are you able to recommend any options? I am concerned that both the lack of high yield savings accounts in those countries and the cost of international transactions would prevent organizations from using this method.
Thanks for sharing this. I that info about good financial practices are being shared here. I have two questions that you might be able to answer.
First, what specific options are available? As an individual I can open a high yield savings account with Ally (or I can refer to NerdWallet for a list of other high yield savings accounts). But If I am running an NGO I can’t legally use accounts intended for individuals, right? Could you provide a list of options?
Second, these ideas are fairly limited to cash held in USD in the United States, right? For organizations that have operations (and thus which keep funds) in other countries and other currencies, are you able to recommend any options? I am concerned that both the lack of high yield savings accounts in those countries and the cost of international transactions would prevent organizations from using this method.