Discretionary Trust bank account

justlikethat_2

My adult disabled daughter inherited some money from a relative.   His solicitor has drawn up trust deeds with myself as trustee.  I am having great difficulty finding a Bank account.  I would possibly only need to draw on funds 3 or 4 times a year.  Barclays have stopped these accounts.  Metro Bank are over 300 miles from us.  Handelsbanken have high monthly fees.  Trying to find a financial advisor to introduce us to Cater Allen but no luck so far.  Anyone have any experience of Cater Allen or others they could recommend?

xylophone

Metro Bank are over 300 miles from us. 

Would this matter if all you require is a current account for the trust into which you can transfer from  a trust deposit account three or four times a year?

Have you made enquiries about setting up the account on line?

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

With regard to deposit accounts for the Trust, you might try 

Bucks  Building Society/Skipton Building Society/ Bath Building Society.

xylophone

My adult disabled daughter inherited some money from a relative.   His solicitor has drawn up trust deeds with myself as trustee.  

Also note

https://www.gov.uk/trusts-taxes/trusts-for-vulnerable-people#:~:text=If the trust is for,had come directly to them.

https://www.gov.uk/trusts-taxes/registering-a-trust

justlikethat_2

xylophone said:

Metro Bank are over 300 miles from us. 

Would this matter if all you require is a current account for the trust into which you can transfer from  a trust deposit account three or four times a year?

Have you made enquiries about setting up the account on line?

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

With regard to deposit accounts for the Trust, you might try 

Bucks  Building Society/Skipton Building Society/ Bath Building Society.

My issue is that it appears in order to open the trust account both trustee and beneficiary need to attend a branch in person to present photo id etc.

xylophone

My issue is that it appears in order to open the trust account both trustee and beneficiary need to attend a branch in person to present photo id etc.

Have you telephoned Metro bank to explain that the beneficiary is disabled and that so long a journey is very difficult?

Would Metro accept an affidavit as to identity from the deceased's solicitor (together with whatever other evidence of identity you have as required by other institutions when opening a new account)?