Investing money from a Metro Will Trust to Cater Allen to act as a savings vehicle

DAB01

I see Cater Allen are offering 3.7% for a one year fix.
Is this a safe route to take (Cater Allen reviews are rather worrying) or are there better rates out there for a 1 year investment that is accepted from a WILL TRUST?

xylophone

https://moneyfacts.co.uk/savings-accounts/guides/what-kind-of-account-is-a-trust-account/#:~:text=A trust account – otherwise known,a third party or beneficiary.

There is a list of providers in the above. It does include Dudley BS.

https://www.dudleybuildingsociety.co.uk/savings/personal-savings/bonds/

Might be worth investigating?

DAB01

Thank you for this, Dudley do indeed address this issue. I am aware the list above has a number of institutions that have dropped this.
Are you aware of anyone else that could definitely assist?
Thank you

xylophone

https://www.bathbuildingsociety.co.uk/business-accounts/accounts/trust-accounts/

Or you might try Skipton BS.

https://forums.moneysavingexpert.com/discussion/comment/79551940/#Comment_79551940

DAB01

Thank you.

DAB01

I know we are another year down the line and a number of institutions have withdrawn products ( fixed 1 year or 18 month savings vehicle) from a Will Trust. Currently with Skipton until February, but not sure that they will be able to assist from February.
Do you know anyone else still providing a savings vehicle from a Will Trust looked after by 3 trustees?

xylophone

Metro Bank offer a current account for Trusts but also appear to offer savings vehicles.


You might give them a ring to enquire?

https://www.metrobankonline.co.uk/business/sector-services/products/trustee-banking/

Or you might try United Trust Bank (business account) or Charity Bank or Buckinghamshire Building Society.

DAB01

I know we are another year down the line and a number of institutions have withdrawn products ( fixed 1 year or 18 month savings vehicle) from a Will Trust. Currently with Skipton until February, but not sure that they will be able to assist from February as I understand this offer may now be withdrawn in 2024.
Do you know anyone else still providing a savings vehicle from a Will Trust looked after by 3 trustees?
I currently also have one with Charity Bank that is due to start this week.
I will now need another provider if Skipton are unable to  offer anything.
Thank you

xylophone

Had you approached NS&I?

Or United Trust Bank?

Or UBL?

DAB01

Thank you Xylophone, I will try the suggested. For the record this is our findings this week:

• Shawbrook Bank 5.16% - no to trustees, yes to POA
• Skipton - 2 year Tracker Issue 1 5.25% - no to trustees
• Saga Smartsave 4.96% - no to trustees
• Aldermore 4.85% - no to trustees
• Tesco 4.80% - no to trustees
• Paragon 4.70% - no to trustees
• Nationwide 4.25% - no to trustees
• Hampshire Trust Bank 5.10% - no to trustees
• Leeds Building Society 4.20% - no to trustees
• Kent Reliance - no to trustees, yes to POA
• Castle Trust Bank 4.85% - no to trustees, yes to POA
• Oaknorth 4.80% - no to trustees