Executors' Bank Account - how & when to open

Margot123

I found I was banging my head against a wall when even trying to lock my Father's bank account. His bank made an appointment for me to go to their nearest branch ( a 3 hour round trip), and when I got there dragged me through an 'inquisition'. This was despite the fact that I had had 3rd party access and POA, the account was also registered at my home address.
Some 6 weeks later, the account was still 'live' and I had to call the 'bereavement team' who admit they are just ordinary customer services with no specialist knowledge. It was locked there and then.
I then had all manner of marketing 'stuff' arrive from them wanting me to open an executors' account with them..........needless to say, I have opened a basic current account with another bank!

My solicitor advised me not to open an executors' account, just a separate account to keep things tidy. He warned of the charges, and restrictions on such accounts eg no online access/cheque book etc. Many are also classed as 'business accounts' which can flag up all manner of issues with HMRC. Plus the fact that other clients of his had reported how 'clueless' bank staff are at dealing with the bereaved.

flashollie

Thanks for the responses.
Yes I have a spread sheet of the movements of money so far.
I have meeting with Santander to formally issue the death certificate and start to close the current account transferring any utility DDs to a new account.

As I can open the current account for the estate with £25K straight away and all the utilities will come from here I am going to open Santander 123 account in my name for this purpose. While there are perhaps slightly better current accounts out there now, in the circumstance I think this is the best option. I don't have the energy to research these or to ensure a regular income to the account of about £1k month for example to get the Nationwide bests deal as income will be sporadic over the next 6 month as probate etc is granted. Hopefully using the same bank as dads current account will make things smoother.......

Anyone have any other options for accounts for this purposes in these circumstances?