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Bank Account for Discretionary Trust
jscrabtree
Posts: 2 Newbie
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??
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Comments
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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/
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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?0
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Cambridge and Counties Bank seem to offer 3 year and 5 year fixed savings accounts for trusts if that's any use?0
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Very helpful. Thank you.
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Skipton Building society are often mentioned regarding trust accounts.0
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