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CafCash, Charities Aid Foundation's banking service, is to change its name to Caf Bank.

The move comes amid plans to raise an extra &5m of investment and attract another 2,000 customers over the next 12 months.

Peter Mitchell, head of banking service at CAF, said: "It's a decision to reflect the fact that after 18 years we've grown up. We are not a small money fund any more but a fully-fledged banking institution with more than L830m on the balance sheet. Our name had to reflect what...