Latest on Interest Bearing Accounts for Executors

Defactofan

A simple search I've just done with Google quickly threw up one possibility offered by Cater Allen, who appear to offer Executors fixed term deposit accounts of varying fixed periods at reasonably competitive interest rates, so long as you are a "personal customer" and have a minimum of £5000 to deposit (plus a few other conditions of course). I have not looked into this any further at this time but it might be worth investigating if you, like me, have a need to put estate monies on deposit for a lengthy period.
In my case, being the Executor for my late aunt's estate, I have been instructed by the Department for Work & Pensions not to distribute any monies from the estate to any beneficiaries until the DWP have completed their investigation and analysis of my late aunt's state pension benefits (in case of over-payments having been made to her while she was still alive). Now that was more than a year ago that I received that instruction and despite numerous letters, phone calls and evidence being provided, we still appear to be no nearer to getting resolution. So for those of you who are in a similar position please be advised as to how long you may have to wait until you get your cases looked at/finalised. 

poseidon1

That is useful to know, since Cater Allen features regularly in my recommendations to posters looking for trustee bank accounts for family trust funds.

I note for executors accounts, access is conditional on already holding a personal account with them but unusually for a private bank the eligibility requirements do not appear to be onerous, until you try to open a private bank account online. At that point the options are just for existing customers and professional intermediaries. New customers have to ring in, so  presumably that's when one discovers the real criteria.

If you do proceed with opening an account with them ( both personal and executorship), would be helpful to know how you got on and what hoops you had to jump through.