Are there any online executor's bank accounts?

Does anyone know if it's possible to open an online executor's bank account? Alternatively, are there any banks who are happy to open executor's account in one executor's name - if there are two people named in the will as executors. Just to add 2nd executor has no problem with the account being in just 1 name.

Having been to a couple of banks today to close accounts, both have said they require both executors to come to the branch at the same time to open the account and it is not really possible for the 2nd executor to get to the bank.

Thanks.

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  • getmore4less
    getmore4less Posts: 46,882
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    you don't actually need an executor account i managed through a regular account in my ne only with two execs

    another option is just one of you exec the other power reserved
  • I opened a bank account at my local branch (well, started the process), with my co-executor going to their local branch with the paperwork to be passed to my branch. It was processed and and the account opened, albeit a little slowly!

    It may have helped that our personal accounts were already with that particular bank, as was the deceased's - so we were part the way there with all the admin stuff anyway.

    We operated it with a cheque book and in-branch deposits for paper trail purposes, along with paper statements, so I don't know about whether an online version is available.

    But it varied from branch to branch as to how up to speed the staff were with executor accounts and how they worked; I got the impression that flexibility was not a feature of this account, I suspect for the legalities and accountability of the nature of this type of account.

    I found that certain financial institutions would only issue cheques or make direct payments to the executor account, so a regular personal account would not have worked in my situation.
  • Icey77
    Icey77 Posts: 1,247
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    DH had an executors account with HSBC that had online access - the forms were a bit of a pain though as he needed to get UK and International payments made and counter staff weren't that familiar with them resulting in him losing access to UK payments to get the international and then vice versa again later on - was very frustrating :(
    Whether you think you can or you can’t, you’re probably right ~ Henry Ford
  • flightinfo
    flightinfo Posts: 227 Forumite
    Thank you for your speedy responses.

    I think I'll try ringing a few different banks to see what the response is. The other executor does live near me but would find it very difficult to go to a meeting during normal banking hours.

    My problem is that I already have a cheque payable to one of the deceased and their bank won't let me make payments to it - I believe this is quite unusual and most banks freeze the account but do accept payments in. (The situation is complex in that we are executors for husband and wife who sadly passed away within a short time of each other so will definitely be using a solicitor - I am just trying to do some of the more basic work myself.)
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