Best free bank accounts?

jimmy_boy81

Evening all
Im looking for recommendations on the best fee free bank accounts available. 
My brother and I are looking to set up a joint account in order to keep my mums finances in one place as she has recently passed away so we are in the process of applying for probate but I was looking for recommendations on the best place to eventually place any funds we receive.
Accounts with decent interest/account benefits would be welcome 
Thanks in advance 

Zanderman

If you're looking for an account to deal with the estate you might find some limitations apply - as it would be an executors account.  Until probate is given you don't, I assume, have access to any of the estate (other than for essential bills) anyway yet. 

Not that an executors account needs anything special, but you might find a bank puts limitations on it and that benefits normally available might not apply.  You would not, I assume, need it to operate for long.

For my old mum we opened an exec account at lloyds, just an ordinary current account, from which the bequests were paid.  Before probate we used her pre-existing lloyds account for funeral etc bills (in branch each time) and her NatWest for the ongoing household bills.  Nothing else was touched or done - as probate hadn't been granted. 

Once we had probate and the account was opened we contacted every bank. insurance etc and transferred into that Lloyds.

jimmy_boy81

Zanderman said:

If you're looking for an account to deal with the estate you might find some limitations apply - as it would be an executors account.  Until probate is given you don't, I assume, have access to any of the estate (other than for essential bills) anyway yet. 

Not that an executors account needs anything special, but you might find a bank puts limitations on it and that benefits normally available might not apply.  You would not, I assume, need it to operate for long.

For my old mum we opened an exec account at lloyds, just an ordinary current account, from which the bequests were paid.  Before probate we used her pre-existing lloyds account for funeral etc bills (in branch each time) and her NatWest for the ongoing household bills.  Nothing else was touched or done - as probate hadn't been granted. 

Once we had probate and the account was opened we contacted every bank. insurance etc and transferred into that Lloyds.

Thanks for this, it's really useful. Would you recommend that we keep an account with my mums primary bank in order to make life easier initially? 

Zanderman

Well we went with Lloyds as we felt we knew them (or at least the branch staff who dealt with this sort of thing) by the time probate came, as we'd had several chats about funeral spend etc.   I suspect my mum would have said (if she was able to give a view!) go with NatWest as she'd been with them longer.  But the local NatWest branch seemed less welcoming!

But also, it has to be said, because Lloyds had a biggish branch near us and it was easy to get to and they had specialist staff on hand (mainly by appointment but some chats just popping in on the off-chance).  

If the branch had been less convenient (or tiny and without knowledgeable staff - they need to be trained in the right issues) we might have done something else. 

Emmia

jimmy_boy81 said:

Zanderman said:

If you're looking for an account to deal with the estate you might find some limitations apply - as it would be an executors account.  Until probate is given you don't, I assume, have access to any of the estate (other than for essential bills) anyway yet. 

Not that an executors account needs anything special, but you might find a bank puts limitations on it and that benefits normally available might not apply.  You would not, I assume, need it to operate for long.

For my old mum we opened an exec account at lloyds, just an ordinary current account, from which the bequests were paid.  Before probate we used her pre-existing lloyds account for funeral etc bills (in branch each time) and her NatWest for the ongoing household bills.  Nothing else was touched or done - as probate hadn't been granted. 

Once we had probate and the account was opened we contacted every bank. insurance etc and transferred into that Lloyds.

Thanks for this, it's really useful. Would you recommend that we keep an account with my mums primary bank in order to make life easier initially? 

We used HSBC for the executors account, and I have to say that we had no issues with them - the bereavement team were very helpful. I and the deceased both bank(ed) with HSBC which made the security checking easier. 

HSBC offer the accounts through their business banking - but there are no fees etc. associated.

You've presumably notified the banks of the death, and her accounts have been frozen?

jimmy_boy81

Emmia said:

jimmy_boy81 said:

Zanderman said:

If you're looking for an account to deal with the estate you might find some limitations apply - as it would be an executors account.  Until probate is given you don't, I assume, have access to any of the estate (other than for essential bills) anyway yet. 

Not that an executors account needs anything special, but you might find a bank puts limitations on it and that benefits normally available might not apply.  You would not, I assume, need it to operate for long.

For my old mum we opened an exec account at lloyds, just an ordinary current account, from which the bequests were paid.  Before probate we used her pre-existing lloyds account for funeral etc bills (in branch each time) and her NatWest for the ongoing household bills.  Nothing else was touched or done - as probate hadn't been granted. 

Once we had probate and the account was opened we contacted every bank. insurance etc and transferred into that Lloyds.

Thanks for this, it's really useful. Would you recommend that we keep an account with my mums primary bank in order to make life easier initially? 

We used HSBC for the executors account, and I have to say that we had no issues with them - the bereavement team were very helpful. I and the deceased both bank(ed) with HSBC which made the security checking easier. 

HSBC offer the accounts through their business banking - but there are no fees etc. associated.

You've presumably notified the banks of the death, and her accounts have been frozen?

Thanks for your reply, also very useful. Yes weve used the services which let the relevant government and banks know as well as the utility companies.
She banked with santander so I'm minded to perhaps stay with them, I'll perhaps speak with their bereavement team as the funeral costs Will need to be discharged (we have death certificate and the will naming me and my brother as executors)

EssexExile

We toyed with an executor account when Dad died in October, in the end we just did everything through our own existing account. Utilities paid all refunds to me & even life assurance paid out cheques in my name. The only awkward one was TV licensing who insisted on speaking to my dead father.

We had an executor account when my father-in-law died a few years back. We tried NatWest, his bank, but they refused so we went with our bank, Santander. I'm not sure what it added to the process though.

xylophone

Is there enough in your late mother's account to cover funeral costs?

https://www.santander.co.uk/personal/support/customer-support/bereavement

If a funeral invoice is provided, where there are sufficient funds available in

an account in the deceased’s sole name, you can ask us to pay these costs

from the deceased’s account(s) straight to the funeral director.

EssexExile

xylophone said:

Is there enough in your late mother's account to cover funeral costs?

https://www.santander.co.uk/personal/support/customer-support/bereavement

If a funeral invoice is provided, where there are sufficient funds available in

an account in the deceased’s sole name, you can ask us to pay these costs

from the deceased’s account(s) straight to the funeral director.

Yes, just tell the funeral director to invoice the bank.

jimmy_boy81

Thanks all for the advice and assistance. There is enough in her account to cover the funeral costs and any other ongoing direct debits whilst we await probate.

Hugs to you all for having to sort out this 

Emmia

jimmy_boy81 said:

Thanks all for the advice and assistance. There is enough in her account to cover the funeral costs and any other ongoing direct debits whilst we await probate.

Hugs to you all for having to sort out this 

You may find that whilst the funeral will be paid for, direct debits may not once the bank is notified of the death and the account is frozen.