Can anyone direct me to a useful bank that will allow you to open a bank account as a trustee of a discretionary trust without asking you to provide ID for ALL the ‘remoter issue’ who are currently over the age of 18 years so that such ‘remoter issue’ can sign the terms of business for the bank? That is the latest obstruction put forward by Royal Bank of Scotland (my own bank). I have tried to explain that this is a discretionary trust - not a business nor an individual person.
Am I the only person experiencing problems with banking and discretionary trusts? I can’t act as a bank (SAR) but at the same time I can’t find a bank that understands trusts. Can anyone please help?