Discretionary trust bank account

Try Yorkshire Bank or Cater Allen. Personally I try and avoid having bank accounts for trusts (and I say that as someone who doesn’t hold client money). I find them opaque and disproportionately expensive to deal with.

If the trustees have a broker in place they can often do the cash management for you.

Also, I would say have another look at the SAR – if you are continuing to act for the trustees in the ongoing administration of the trust you may find you can legitimately use your client account for the trust receipts/payments envisaged.

Good luck

Sara

image002.jpg