We have just taken over as trustees of our own trust fund and need to set up a bank account. Are Metro Bank still the top runner for this or are there some other bank account available?
We use Metro Bank for all our trust bank accounts.
It should be noted they only provide accounts for express and will trusts.
No SSAS pensions.
Richard C. Bishop
PFEP
Dear Richard
Many thanks for your email. We have decided to go with Metro too. There doesn’t seem to be a great amount of choice with Metro being the only bank that we actually recognise.
Your response is greatly appreciated.
Kind regards
Georgia
Metro bank works fine for our Discretionary Trust. We switched to Metro when Allied Irish stopped their service.
A couple of [good] points with Metro that i confess i was unaware of until recently:
- For a small fee per user, you can currently upgrade your Metro trust account to a Business Online Plus account which permits multiple signatories to countersign transactions using online banking (where two or more signatures are required).
- Metro will shortly be launching a whole new platform dedicated to trust accounts which will incorporate the above functionality amongst other goodies.
Contact:
Dominic Wright, Head of Trustee Banking
Mobile: +44 (0)7530 588 461
Email: dominic.wright@metrobank.plc.uk
They have simplified the ID process - its now online. Although we have experinced having to submit mannual ID if the score is low.
Richard C. Bishop