FAQ

What is Achisomoch?

Achisomoch is an independent organisation, established in 1981, to provide services for the administration of charity accounts. It acts like a conventional bank and issues clients with cheque/voucher books. These are used by clients to make donations to registered charitable organisations.

Achisomoch reclaims any tax rebates as appropriate and credits that amount to the client account. Achisomoch offers a very personal service to both clients and institutions.

What type of accounts does Achisomoch offer?

You may use Achisomoch for any of the following services:

1. GIFT AID: OOn all payments to Achisomoch, the basic rate of tax is reclaimed increasing the value of the client's donation by 28%. A Gift Aid form needs to be completed just once when the account is opened.



2. PAYROLL GIVING: This account is available to all clients who receive their salary through PAYE. The client instructs their employer to make payments to Achisomoch, directly from their salary, before tax has been deducted. Payroll Giving forms need to be completed by the client and employer.



3. DONATION: This type of account is used by clients who manage private charity funds. They use Achisomoch to dispose of special funds for charitable purposes (e.g. inheritances) or make donations directly from their company. This technique allows them to dramatically reduce the work of administration of their fund.

What commission rate does Achisomoch charge?

A small commission is charged on all payments into the account, depending on the size of the donation and the number of vouchers written. The standard rate is 5% with a minimum charge of £10 - reducing for larger donations or those who use their account frugally.

What is Achisomoch's turnover and size?

In the year ending March 2010, the total donations received were just over £6.5 million from over 500 active clients. The number of charitable organisations supported is around 950 and growing rapidly.

What happens to Achisomoch's "profits"?

Since January 2001 Achisomoch has distributed just under £2 million from its profits. Of this, approximately 50% has been given to Gateshead Yeshiva and the rest to local Jewish educational establishments. Management costs have been consistently less than 1% of turnover.

So what are the key benefits of using Achisomoch?

• We offer a very personal service - praised by clients and organisations alike
• We donate all our profits to local educational institutions
• Clients can manage their accounts on-line at www.achisomoch.org. This includes search through recent transactions and authorising transfers
• Clients can get an SMS/Text message on their mobile phone when the account is low
• We have voucher books of denominations - blank, 50p, £1, £3, £5, £10, £18, £25, £36 & £50
• We are a registered Payroll Giving (Give As You Earn) agency
• We use BACS and (automated) faxes to improve efficiency of our administration
• Clients may communicate with us using e-mail ( achisomoch@gmail.com) and receive statements in this way too
• Rebates from Gift Aid are credited to your account immediately upon receipt
• We operate a bank account in Israel making it simple to make donation to bona-fide Israeli charities - and to do that swiftly and with excellent NIS exchange rates

How do I open an account with Achisomoch?

After completing and submitting the necessary forms, you will need to make a payment to Achisomoch.

For the GIFT AID and DONATION accounts you may either

a) send a cheque made payable to Achisomoch

b) arrange for a standing order/electronic transfer into Achisomoch’s bank account:

Jan 2011