How does the client fund their DAF?
1. Is there a minimum amount to fund the DAF?
- Yes, the minimum donation is £5,000 for the first year, or £500 per month.
2. How does the Donor pay their first donation?
- The Donor pays their donation into the TCF bank account, these details are shown in the application form the Donor signs when opening the account. The TCF Administrator will then pay their donation to their DAF.
3. How frequently can the donor make payments into their DAF?
- We can facilitate monthly, quarterly, bi-annually and annual payments into their DAF by the Donor arranging a standing order from their bank account to the TCF bank account. A further standing order will be arranged from the TCF bank account to the individual DAF. The minimum amount for setting up standing orders is £500 per transaction.
- The Donor can also pay a one-off lump sum if they do not wish to regularly donate into their DAF.