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Trusts - frequently asked questions

We have both current and savings accounts available for Trusts. Visit our Solutions for trusts page for more information.

Trust accounts are currently only available via an intermediary who has an existing relationship with Cater Allen.

There are currently no account opening fees, however there may be fees for certain services – please refer to our Banking Tariff (pdf) for full information. There is currently no minimum account balance required.

The Trustees should complete the Trust Accounts Application Form and Mandate in full including Trust details and source of funds and ongoing credits to the account. You'll need to give us information about:

  • trustees
  • settlors
  • any individual who has control over the trust
  • vested beneficiaries
  • corporate trustees
  • authorised signers.

More support can be found in our Trusts glossary of terms.

In addition to the application form, you'll need to send identification and additional documentation in accordance with the 'Customer Identification Requirements (pdf)' guidance, e.g. a certified Copy of Trust Deed, copy of the trusts proof of registration document from the HMRC Trust Registration Service (TRS) if applicable, etc.

When sending us your Will or Trust Deed, please send us any following deeds of appointment/retirement of Trustees and any other supplementary documents which change the terms of the Trust or the beneficiaries.

Please send your application and supporting documents to Cater Allen Private Bank, Cater Allen Operations, Sunderland, SR43 4FB. Please do not send original documents, due to the dangers of postal interception.

As a general rule, all Trustees need to be signatories. If you are satisfied that fewer Trustees are required to authorise any single transaction, in accordance with your Trust rules, then this can be reflected in the Declaration and Mandate section of the application form.

Please ensure that section 9 (Authorised Signatories and Acceptance) corresponds with the information given in section 8 (Declaration and Mandate). The total number of signatures in section 9 must correspond with the total number of Authorised Signatories input in section 8. The application form must be signed by all Trustees.

Please include the Corporate Trustee details within the 'Corporate Trustee' section of the application form. New Corporate Trustees to Cater Allen will be required to complete an additional registration form which will be issued upon receipt of your application.