Trustee Bank Accounts

We are researching the interest rates and availability of Trustee Bank Accounts for a client but there doesn't seem to be much information available. Has anybody got any tips on where to start looking rather than trawling through dozens of bank websites. 

thanks

Comments

  • http://www.investmentsense.co.uk/accounts-for-pensions/

    This is a list of accounts that allow SIPP investments. As SIPP cash accounts are set up as trustee accounts they should accept non-SIPP trustee money too.
  • richallumrichallum Administrator
    had one recently and lots of providers no longer take trust (not SIPP trust) money.  We used Cater Allen Bank but I think they may now have some restrictions in place.

    Paraplanner. F1, Apple, Nutella, ice cream. No trite motivational quotes. Turning a bit northern. Republican.

  • great, thanks for this.
  • thanks Richard, yes I saw Cater Allen but finding any alternatives is time consuming. I suppose the Banks aren't keen on customers they won't be able to cross sell credit cards and loans too  :o
  • richallumrichallum Administrator
    There are a couple of paid for services that you could use:

    Deposit Sense and

    Cashcade cash

    Paraplanner. F1, Apple, Nutella, ice cream. No trite motivational quotes. Turning a bit northern. Republican.

  • Claire Goodwin Claire Goodwin Administrator
    Hi Matt - I've used investment sense too, also savings champion might have something https://www.savingschampion.co.uk/

    There are also services like this one http://www.dcmcash.com/ which have a cost but may be able to help. (this is not an endorsement BTW) but they search out the best rates for you. 

    Finding a bank which will open a trustee account is getting harder and this is where the traditional banking relationships come in so any solicitor connections you have should be able to offer you some help here too. I'm not sure whether you've tried or have a relationship with Handelsbanken or UBS (or any other banking providers) but they might be able to help too. 
  • @Mattclegg and all - did you find anything over and above those previously mentioned here?

    Just had a Solicitor contact call asking look for Trust deposit account....
  • A couple of other options I've come across.

    NS&I Investment Account or Income Bond can be opened and operated by Trustees.

    Via platform (eg Transact and their term deposit offerings) - albeit platform cost detract from interest rates.
  • I've been using Julian Hodge for recent ones. Cant guarantee rates are the best but they work well with the SSAS and SIPP providers we tens to use (MW, Investacc, Suffolk Life).


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