We understand Trust accounts.

A Trust Bank account is an account specifically designed for trusts to enable them to manage the day to day running of the trust.

At UTB we offer a Trustee Reserve Deposit Account that can be used to receive and make payments relating to the trust. Once the minimum balance of £15,000 is met, Trustees can then also apply for our range of Trust Savings accounts.

You can find out more details and our current rates here.

We currently accept applications from:

– Bare Trusts

– Will Trusts

– Interest in Possession Trusts

– Life Interest Trusts

– Personal Injury Trusts

If you have a different type of trust, we may still be able to help you so please contact us on: [email protected]

At the end of our online application form you will need to upload:

– A copy of the Trust Deed or Will (if the Trust is not registered with the TRS we will require this to be certified)

– Proof of the TRS Registration (this can be downloaded from the HMRC website)

– If the Settlor is deceased, a copy of their death certificate

– For minor beneficiaries, a copy of their birth certificate or passport

If you do not have some of these documents or have any questions, please contact us to discuss on [email protected]

We offer a Trustee Reserve Deposit Account to assist with the day to day running of the trust, once the minimum balance of £15,000 is met you will be able to access our range of Trust Savings Accounts including notice accounts and fixed term bonds.

You can find out more details and our current rates here.

No, you do not need to use an intermediary to apply for a trust bank account with us, you can open an account directly. If you are an intermediary please register for a call back here.

Our Trustee Reserve Deposit account has a minimum balance requirement of £15,000 at all times. For our Trust Savings Accounts the minimum balance requirement is £5,000.

Our maximum balance for the Trustee Reserve Deposit account is £2m and for our Trust Savings Accounts the maximum balance is £5m. If you have a requirement outside of these limits, please contact us to discuss on: [email protected]

To apply for our Trustee Reserve Deposit Account please complete an application here, scroll down to ‘Start Application’ and then select ‘Trust’ from the dropdown menu.

If you are an intermediary, please register for an account here or login to complete an application here.

If you already hold a Trustee Reserve Deposit Account with a minimum balance of £15,000 please login to online banking to apply for our Trust Savings Accounts or call our friendly, London based, customer support team on 0207 190 5599.

Yes, we understand some trusts can have minor beneficiaries. We are required to carry out identity checks on all beneficiaries, including minors. To fulfil our requirements if you have a minor listed in the trust please upload a copy of their passport or birth certificate at the end of the application process.

Please note, if the Trust Deed lists beneficiaries as a ‘class’ for example grandchildren of, then we do not need to identify them.

For our Trustee Reserve Deposit Account, each beneficiary/trustee can provide their own nominated bank account in the application. Up to two withdrawals per beneficiary/trustee are allowed per month. Please note, this is subject to a maximum of eight nominated bank accounts per trust.

The Trustee Reserve Deposit Account will act as your nominated account for our Trust Savings accounts, at maturity of a fixed term or notice period if we do not receive further instructions from you the balance will be placed into the Trustee Reserve Deposit Account.

Withdrawals from the Trustee Reserve Deposit Account are permitted up to twice per month per nominated account, please note a maximum amount of £10,000 per payment also applies.

To make a withdrawal, login to online banking, select the Trustee Reserve Deposit Account and choose the ‘Make a Withdrawal’ option. Enter the amount you wish to withdraw and then choose the date the payment should be made. Please note, we require a minimum balance of £15,000 to be maintained on the Trustee Reserve Deposit Account.

Should your withdrawal request be submitted and authorised by 5pm on a business day, the funds should reach your Nominated Bank Account on the same business day. Requests made after 5pm, or on a non-business day will be processed on the next business day.

Depending on the account mandate, if the withdrawal request requires another approval this needs to be done by 5pm to receive funds same day.

For the Trustee Reserve Deposit Account and Trust Notice Account statements are sent annually, after interest is applied on 31^st October each year. For Trust Fixed Term Bonds you will receive a term confirmation document and then statements are sent annually on the anniversary of the fixed term’s start date.

Should you require statements more frequently you can send us a secure message via online banking or call our friendly customer support team on 0207 190 5599.

If you need to add or remove a signatory from your Trustee Reserve Deposit Account you can do so by completing a new mandate form by visiting our ‘Change of details’ page here and complete the steps under the ‘Changing Mandates’ section.

Please note we will require supporting documentation from the Trust including an amendment to the Trust Deed and a new copy of the TRS Registration (if applicable) which confirms the change in trustee/beneficiary.

We will contact you two weeks before your bond matures to ask what you would like to do with the funds.

For online banking customers, we will also send you a text message to confirm your account is approaching maturity, and you can log in to provide your instructions from that day onwards. Please note, all signatories must have signed up or online instructions will not go through fully.

If you don’t provide instructions before your maturity date, we will automatically transfer the full balance (including any interest earned) into your UTB Trustee Reserve Deposit Account

The Trustee Reserve Deposit Account is an account we offer to trusts to help with the day to day running of the trust, it provides trustees with flexibility to access funds when they need to.

Each Trustee or Beneficiary can withdraw funds up to twice per month, each payment can be for a maximum value of £10,000 and will be sent directly to their nominated bank account. Please see our Terms and Conditions for further information on payments here.

To open any fixed term or notice accounts available to trusts the trust must have opened a Trustee Reserve Deposit Account and maintain a minimum balance of £15,000. Further information can be seen here in our Product Guide.

All trusts are eligible for online banking but only signatories can register. To register for online banking please click here.

After you have registered you will receive an email with your username and a temporary password. This email should arrive within a few minutes, if it doesn’t, please check your junk/spam folders.

If you have already registered for online banking you can login here.

Push Notification

Below is a short video guide on how to register for online banking using push notifications:

SMS Notification

Choosing SMS means we will use a text message to complete authentication using a one-time passcode sent to your registered mobile number.

An example of the message we send for Two Factor Authentication is displayed below. You only need to enter the numbers displayed in the SMS:

In the event that you hold a personal account and also act as a signatory for a trust, and you want to register both for online banking, you will need to complete the registration form separately for your personal online banking and your trust online banking.

This is because account numbers are directly linked to the customer type and profile, i.e. a personal customer can only see their personal accounts on online banking and a trust customer can only see their trust accounts.

If you act as a signatory for more than one trust, you will need to sign these up separately as well since only the relevant accounts for that trust will show online.