Hi,
Bringing this one to the top as I'm looking for some help.
At the moment I have a current account with LLoyds for a discretionary trust of which I'm a trustee. We've had the account for over 22 years.
As noted elsewhere in this thread LLoyds are not very helpful with Trust accounts. The last time I had to deal with them was to change the trustees and the cheque signatures. This took about 4 months to sort out and still was not done to my satisfaction in that whilst they have now got the trustees correct they were unable to remove two signatures and add another from signing cheques. Thus if I run into a bus it's going to be an issue.
My staff at my Lloyds branch are actually incredibly helpful but they have no control over the central trustee team. They have openly told me Lloyds do not allow new trust accounts and briefly suggested it related to trust accounts that were set up in a different time when compliance was different.
Anyway back to the point. As well as my cheque signature issues LLoyds do not offer internet banking on trust accounts, which is now becoming an issue as there's an expectation things are dealt with this way.
So, where can I get a current account for a discretionary trust with no fees that offers internet banking. The ability to gain some interest from a linked savings account would also be good for when money is sitting around doing nothing?
I see from the thread we have Carter Allen and Metrobank. Any other thoughts? Carter Allen appear to require a minimum balance of £5k which is a bit annoying as that's £5k I can't invest and earn 5% on. On the other hand if I looked back over the last 5 years at how many times there wasn't £5k doing nothing it is neglible as there is always a tax bill or distribution coming up shortly.
Many thanks in advance
Ad blocker detected: Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.
Current Account for Trust.
Discussing offers, rates and deals on suppliers
Return to “Bank Accounts Savings & ISAs”
Jump to
- About the Site
- ↳ Welcome to the Lemon Fool (TLF)
- ↳ Announcements
- ↳ Suggestions to Improve the Site
- ↳ Welcome to US Fools
- Investors' Roundtable
- ↳ How Do I Invest
- ↳ The Economy
- ↳ Investment Strategies
- ↳ Green Investing
- ↳ Company Analysis
- ↳ Retirement Investing (inc FIRE)
- ↳ Property Investment Discussions
- ↳ Portfolio Management & Review
- ↳ High Yield Shares & Strategies - General
- ↳ HYP Practical (See Group Guidelines)
- ↳ Growth Strategies
- ↳ Trading my way to a million
- ↳ Technical Analysis
- ↳ Passive Investing
- ↳ Macro and Global Topics
- ↳ International & Expat Investors
- ↳ Other Investing
- ↳ Brokers and Share Dealing
- ↳ Crypto and NFTs
- Sectors & General Share Dealing
- ↳ Company Share news (LSE Main Market)
- ↳ Stocks and Share Dealing Discussions
- ↳ Investment Trusts and Unit Trusts
- ↳ Gilts and Bonds
- ↳ Mining & Metals
- ↳ Oil & Gas & Energy (Sector & Companies)
- ↳ REITs & Property Companies
- ↳ Banking Sector
- ↳ Venture Capital Trusts (VCT's)
- ↳ Pharmaceuticals & Bio-Pharma
- Managing Your Finances
- ↳ Dealing with Debt
- ↳ Bank Accounts Savings & ISAs
- ↳ Financial Software - Discussion
- ↳ Living Below Your Means
- ↳ Student Finance
- ↳ Pensions - Practical Problems
- ↳ Mortgages
- ↳ Credit Cards and Loans
- ↳ Taxes (Practical)
- ↳ Your Tomorrow Starts Today
- ↳ Personal Finance Calculators
- Lemon-Aid
- ↳ Does anyone know?
- ↳ Legal Issues (Practical)
- ↳ Technology - Computers, TV, Phones etc.
- ↳ Building and DIY
- ↳ Comfort Cafe
- ↳ Running a Business
- ↳ Charitable Giving
- ↳ Family Matters
- Lemon Lounge
- ↳ Room 101 - Escalation to Admin
- ↳ Room 102 - Site Issues, Complaints & General Chat
- ↳ Beerpig's Snug
- ↳ Lemon Socials
- ↳ Laughing Lemons
- ↳ Coronavirus Discussions
- Travel Lounge
- ↳ Cars, Driving, Motorbikes or any Transport
- ↳ London lovers
- ↳ Around the UK
- ↳ Airport Lounge
- ↳ Cycling
- Interests - Culture, Leisure , Food and Nature
- ↳ Sports Bar (all sports)
- ↳ Music, Theatre, TV and Film
- ↳ Food
- ↳ Drink
- ↳ The Natural World
- ↳ Books and Reading
- ↳ Photography
- ↳ Science
- ↳ History
- ↳ Health & Wellbeing
- Polite Debate & Discussion
- ↳ Current Affairs & News
- ↳ The Meaning of Life
- Any Other Business
- ↳ Land of Off Topic Posts
- ↳ Pedants' Place
- ↳ Bitter Lemons
- ↳ Curiosity Corner
- ↳ Games, Puzzles and Riddles
- ↳ Catastrophe Corner
- ↳ Testing 123...