Do you need to open a Trustee Bank Account?

We advise you on which type of bank accounts are suitable as per your Trust Deed and Rules.
We find out from you what type of banking facilities you need i.e. current account, savings account, investment account, online access and cheque book facility.
We research the banking market for and recommend the most suitable Trustee Bank Account(s) for you.
We help you complete all the application forms and ensure that the correct supporting documents are sent to the chosen bank
We guarantee to get you a Trustee Bank Account set up within 28 days*
All this from only £299.00**
** Our fees depend on the complexity of your Trust. To see our full fee range please click here

Click here for your first step to opening your Trustee Bank Account.

Trustee Bank Account

Trustee responsibilities – carrying out your duties
Trusts come in many shapes and sizes, and they all appoint Trustees who have a legal responsibility to act in the best interests of their beneficiaries. The role of Trustee is the most important role within a Trust and carries with it several responsibilities. This can often involve some form of banking and financial management covered in the Trustee Act 2000.

Simpson Financial Services can help you understand the powers you’ve been given
If you are a Trustee and have this responsibility, you will probably need to make sure that you have a Trustee Bank Account set up. You might also need to set up a Trustee Investment Accounts.

Trustees banking facilities
As there are a number of different banks offering a variety of Trustees banking facilities, part of the service Simpson Financial Services offer is to help advise you about how to choose the account most suited to the Trust’s requirements. This means taking into consideration the plethora of different features, ranging from interest rate levels and services to the complications you may incur when setting them up or making account changes.

Professional, expert impartial financial advice is essential
For Trustees investments, the list might be endless. It depends what is and isn’t permitted as per the Trust Deed, which makes obtaining professional and impartial financial advice essential.

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