Bank Account for a Will Trust

Nick_French

I am a trustee for my father's will trust and I am looking for a current account to store some surplus funds of the trust to cover tax and any legal bills going forwards. It is not a large sum of money (<£20,000).
We are currently using a business account with HSBC and they have started charging a monthly fee for the account despite the activity on the account is negligible. I was told by HSBC when I queried the charge that I was started on a free banking deal for 18 months but this offer lapsed - but this was not made clear to me when the account was opened. They told me I should of opened a community / society account at instead of a business account but that again was not the advice I was given at the time. They could not guarantee that they would open a will trust account as a community account now.
I have started to look around for another account that does not charge but finding it difficult because one of the trustees / beneficiaries lives in New Zealand. Lloyds were happy to open an account as a community / society but backed out as soon as they discovered that all the trustees and beneficiaries are not UK based.
Does anyone know of a bank that is a bit more friendly to will trusts and open an account for me with a foreign resident as one of the beneficiaries / trustees. :huh::huh::huh:

jonesMUFCforever

I would suggest that you stay put!

Nick_French

It looks like it is my only option at the moment. I have tried several banks only to be told they will not handle a will trust with a non-UK resident as a trustee / beneficiary.