Triodos Bank

“We only use our money to finance projects we believe lead to a fairer and better world, or organisations that aim to make a positive and lasting impact on society, culture or the environment.”  - Triodos

Overview

Triodos was founded in the Netherlands in 1980. It tops the Ethical Consumer ranking for current accounts and comes in third place for its savings accounts. Triodos 

Official Policies

Triodos have an extensive ethical investment policy that goes beyond ‘negative’ screening, only investing in businesses and charities that it judges to be of social or ecological benefit. They commits to values of sustainability, transparency, excellence and entrepreneurship. Triodos operate with transparency; they publish the details of every organisation that they finance.

Key Projects

“We believe banks should be open – that’s why we publish details of every organisation we lend to. We’re proud to finance inspiring businesses and charities, and want to show you the impact your money is having. Together we’re building a more sustainable society. See who we're financing near you and around the world.”

On the Triodos Bank website you can find detailed information on the projects that Triodos (and by extension their customers) support. According to their 2017 Integrated Annual Report, 23.6% of their investments are in the renewable energy sector, which is broken down further on the right. 

Practicalities

Due to the lack of UK branches, you can’t currently pay cash into your account, only cheques. Their accounts are designed to be online (via mobile app and internet banking).

Source: https://www.triodos.co.uk/current-accounts/current-account

Triodos offer a current account at a fee of £3 a month. With this current account you will also receive an eco-friendly contactless Debit Mastercard made from 100% renewable resources. On the account there is no unplanned overdraft. You can apply for the account online. In addition to current accounts, Triodos offer a variety of savings account which vary in interest rate; limits on withdrawals; and notice periods.

Any money that you hold in a Triodos current or savings account is covered by the Dutch Deposit Guarantee Scheme. You can switch to Triodos easily using the ‘Current Account Switch Service’ - they explain how here