Trustee Bank Account?
We have a client who is the trustee of a Will Trust. We need to keep some of the trust funds liquid as these will be used to fund regular expenses for the beneficiaries (both under 18).
The trustee has asked her bank (TSB and Santander) but they don't offer trustee accounts.
Does anyone know have any experience of setting up a trustee bank account or know which banks offer these?
We did think of holding the cash on a platform alongside the trust's offshore bond (i.e. Transact) but they will only pay out to a beneficiary or a trustee bank account (not the personal bank account of a trustee).