Bank Account for Discretionary Trust

jscrabtree

My father has bequeathed money into a Discretionary Trust for my sister who is unable to manage finances for herself.  I'm the executor and trustee.  I cannot find any bank that is currently opening new accounts for a Discretionary Trust.  Can anyone suggest a bank as they all seem to have been holding off since Autumn 22??

Shedman

Have you tried Metro Bank as we got a trust account with them albeit about 2 years ago?

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

Shedman

By the way is the Trust registered with the Trust Registration Service (as most trusts have to be now) as, if Metro are still offering trustee accounts, I think they may require that as a condition? 

Shedman

Cambridge and Counties Bank seem to offer 3 year and 5 year fixed savings accounts for trusts if that's any use?

https://ccbank.co.uk/business/savings/savings-interest-rates/

jscrabtree

Very helpful.  Thank you.

Albermarle

Skipton Building society are often mentioned regarding trust accounts.