Personal injuries trust

Annmarie972

Hi hoping someone can help me .My mum is about to receive a large lump sum personal injury compensation.I have been told to set up a personal injuries trust before the payment is released.
I totally understand the setting up of the trust document by the solicitor and the charges involved. After i have the trust document i need to open the account and this is where it all gets a bit fuzzy.
I cant find a high street bank or building society that do personal injury trusts or am i googling the wrong thing?
Are there any charges from the bank for initially opening the account?are there yearly charges ?

First time posting and would appreciate any advice

Thank you

kidmugsy

We had a thread just the other day. I mentioned Metro Bank and the Skipton BS. Other people weighed in with other suggestions.

https://forums.moneysavingexpert.com/discussion/5884342/trustee-accounts


Also:
http://trustsdiscussionforum.co.uk/t/bank-account-for-a-trust/3865

kidmugsy

By the way, it's a common complaint both from laymen and solicitors that it can be tricky to find a bank/BS that will provide the service you want. Part of the problem seems to be that even if the bank does offer a service their branch staff will often be clueless.

Perhaps you could enquire at the HQ of any local BSs or banks you might have e.g. for me

https://ccbank.co.uk/ccb/lp1-2/


Also, look at Santander. Also, also, this looks a good phrase to google:
Trustee bank accounts

kidmugsy

Only two replies and both from me. May I suggest you try another forum? Savings & Investments might be best, or Budgeting & Bank Accounts? You might like to look through the whole list first.

Annmarie972

I thought i had put it on savings and investments.really appreciate your help.

xylophone

Have you tried Metro Bank or Natwest?


http://www.markthompsonlaw.com/best-bank-or-building-society-account-for-personal-injury-trust/personal-injury-trust-to-protect-personal-injury-compensation/