Opening Executors Account with bad credit rating

Old-man-still-learning

I am the appointed Administrator for someone who died intestate - I have Letters of Administration. I have an arrangement via StepChange with my own creditors. I need to open an executors account to keep the estate’s affairs separate from my personal finances.
Two questions:
Firstly, will I have a problem opening an account due to my poor credit rating and debts?
Secondly, will the accounts of the estate be linked to my personal finances by the credit reference agencies?

fwor

I don't know for sure, as it probably depends what exactly your credit history shows you have done in the past (e.g. fraud markers might have an impact).

But the one that we opened recently had no credit facilities at all - no overdraft and no access to a credit card - so in that respect it's rather like the basic bank account that almost anyone qualifies for. So I doubt you'll have a problem.

Keep_pedalling

The main problem you are going to find is that most banks don’t offer executor accounts, especially if you or the deceased was not a customer.

Try the deceased persons bank first.

oldagetraveller

Keep_pedalling wrote: »

The main problem you are going to find is that most banks don’t offer executor accounts, especially if you or the deceased was not a customer.

Try the deceased persons bank first.

I was only able to open one as an existing customer with Lloyds. I suspect the o.p. will have a problem opening one of these accounts, with a random bank, even if they do offer the option.
It is separate, the account name is not mine but "Executors To The Estate of The Late xxxxxx.". Or words to that effect

xylophone

Relative opened an Exor account recently with Barclays -
he and deceased had accounts with that bank.

The OP should try his own bank first - or Natwest might help.

https://supportcentre.natwest.com/Searchable/913244482/What-is-an-executor-account.htm

EssexExile

xylophone wrote: »

...or Natwest might help.

In my experience I doubt they will. My father-in-law payed them well for many years but when he died they wouldn't let us open an executor account.