Solutions for Executors and Personal Representatives
An account with full banking facilities and instant access allowing up to 20 day-to-day transactions* per calendar month. The minimum opening balance is £5,000. No interest is paid on balances below £100,000.
Sovereign 30 Account - Issue Three
An account that offers an enhanced rate of interest on savings, providing that 30 days’ notice can be given of each intended withdrawal. One penalty free withdrawal per year of up to £2,500 is also permitted providing the balance is over £5,000. Interest is only paid on balances that remain at £5,000 or more. Clients can select to have the monthly interest credited to another linked account so that it may be accessed more easily (providing the balance remains above £10,000). The minimum opening deposit is £5,000 per account.
Term Deposit Account
Our sterling Term Deposit Accounts are designed to provide personal representatives or executors with a fixed interest rate on funds of £50,000 or over, that can be deposited for an agreed term of between 3 months and 36 months, with an interest rate which is fixed on the day of deposit.
Please note that no withdrawals/closures are permitted during the fixed term. However, should there be extenuating circumstances, early withdrawal/closure will be considered, at the complete discretion of Cater Allen Limited. In these instances your account will only be credited with the capital. In the event of the death of the holder of the account, the capital will be repaid with interest earned to date.