It turns out that means "... so they won't
deduct tax on your interest" (if you are a club, trust, or the account is in the name
of individuals and they would usually deduct tax on it). If your vehicle is an
incorporated entity, then for banking purposes, without a charity number, you're
counted as a business.
So what are the major problems with being considered a business? We'd
get charged transaction fees, but that's not the end of the world just
until we get sorted out. You say there's a minimum balance, what kind
of numbers are we talking? Presumably it's less than £5000, so it
reduces the amount we have to find to get on our feet.