Executors bank acct

Muscle750

We have applied to open such account there are three executors I bank with Natwest the other two don't we have appled to Natwest to set the acct up.
When and if we succeed will i be able to see the acct listed with my normal online banking obviously thou the acct will be held in three names I went into Natwest today and the noddy behind the counter was about as much help as a dog biscuit
Or will I have to do something else to access the acct online we have put that at least two signortiys on each transaction so obviously I won't be able to move any money on that acct etc

jonesMUFCforever

No you will not (if they set it up correctly)
Can't speak specific about Nat West but with other banks Executors accounts are set up as non personal rather than personal.

I'm not sure they will be able to allow you have online access - if they do you will need to ask for it when opening (are we already too late?)and the log in will be similar to a business bank account.

Is it an estate which will take a long time to administer?
If not online access may not matter anyway?

Muscle750

I've just logged onto my online banking and I can see the executors acct along with my other normal accts now to me this maybe correct or incorrect plus I wouldn't but what would stop me transfering money from it even thou we said two signortiys and the password on the acct is totally different to mine? The executors acct is in three names

jonesMUFCforever

Muscle750 wrote: »

I've just logged onto my online banking and I can see the executors acct along with my other normal accts now to me this maybe correct or incorrect plus I wouldn't but what would stop me transfering money from it even thou we said two signortiys and the password on the acct is totally different to mine? The executors acct is in three names

The only way to find out is to try!
It might be that the executors account might be a read only account online.

madgagoo

Account has been set up incorrectly and is only one to sign. Currently there is nothing to stop you transferring money out of the account (I imagine that legally you shouldn't however!)

If it has only been open for a day or two, then this should change once the mandate is processed at the service centre.

Once the account is properly set up as two to sign then it will not be accessible through online banking, not even to view only.