opening an executor's account

Lessers

My brother and I are joint executors of my Aunt's will. We are only waiting for one cheque from her housing company of £18,000 but the compnay have said they can only pay the cheque out 'to the executor's of....' which means we need to open a joint account.

I have been to my bank, the Natwest, who have said because the value is over £15,000 we need to go to probate before they can open an executors account for us.

We want to avoid the hassle and extra cost of probate....and it all seems so time consuming for only one cheque.

Can anyone recommend a bank that they know of that has a higher limit for probate or perhaps no limit at all please?

nom_de_plume

I don't know how accurate or up to date the information is in this thread but see the 3rd reply suggesting Santander have a £25,000 limit.

madbadrob

Santanders limit is for release of funds. It may be worth checking though. You say a housing company. Is this her business? If so then probate should be obtained anyway

ROb

CaptainAmerica

Barclays will not open an executors account without sight of the GOP regardless of amounts involved.


Their limit is 30k for releasing funds out of Barclays accounts without GOP, but if you're asking them to open an executors account it won't happen without GOP.


I think you may find that the majority of the high street banks have the same procedure for executors accounts.

getmore4less

I would check it needs to be an executors account.

The will and any joint account may suffice to get the money paid into it.