I am trying to open a bank account for lay trustees but most banks have stopped offering them or if they do, they require an initial deposit of at least £500k.
Does anyone know if any banks that will open a trustee bank account?
Hill Dickinson LLP
Try Handelsbanken, Cater Allen or Yorkshire Bank.
If the trust has a stockbroker portfolio I would however ask them if they could handle the cash. That would be much more cost effective than going through the rigmarole of opening and administering a bank account.
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Try looking at the Sympathetic Bank feed. There are lots of suggestions and contact details which you can try. Many suggest Metro Bank.
Lambert Chapman LLP
Metro Bank will – speak to Dan Bell - 07507 431 600 or email@example.com
Storrie & Company
Barclays offer a Trustee account.
Hampden & Co do online bank accounts for trustees
Stephen Buckland - 020 3841 7498
We have found that Barclays seem to be reasonably helpful
Herrington Carmichael LLP
I started a thread on this topic late last yer and have found Cater Allen to be the most helpful
Cater Allen (part of Santander) specialise in these. Try Jenny Clayton
Cater Allen Private Bank
+44 (0)7894 808 570 email: firstname.lastname@example.org
Barclays are our “go to” high street bank for trustee accounts at the moment and they are pretty helpful. I think HSBC do them too but I have no experience dealing with them.
Masefield Solicitors LLP
I have recently opened a Trustee Account with Metro Bank - they were extremely helpful and it only took about 2 weeks to sort out. We have approached Handelsbanken on a couple of occasions but they have refused each time.
Lester Aldridge LLP