Trustee Banking

• You can apply to open a Trust Bank Account if you are aged 18 or over.
• Your trust must be established here in the UK and most of the assets must also be in the UK.
• At least 50% of all key account parties associated with the trust (trustees, settlors and beneficiaries) must be resident in the UK. Exceptions apply to certain countries. Please seek further guidance if you have KAPs located internationally outside of the US and EU.
• To get an active account, we need a completed application form and a certified copy of the establishing trust document. If the Trust requires registration with HMRC’s Trust Registration Service (TRS) you will also need to provide a Confirmation of Registration Document or a valid reason for registration exemption. Finally, we need to verify the identity of key individuals related to the Trust.

Trustees – there are a couple of options available to open your trust bank account:

1. The easiest option is to email us all the completed documentation from the list below and we can review it and have the account opened for you. This option requires one of the trustees to be responsible for collating all the necessary forms and documents, emailing them to our trust department in a single pack and then corresponding on any points of clarification. Using this option will also require all your documents (e.g. trust deed) to be professionally certified.  This can be done free of charge at any Metro Bank store. Alternatively, you can request this service from your professional advisor.
2. Alternatively, you can pop into a Metro Bank store with all your fellow trustees. The store team can assist with your trust account application by completing the necessary identification steps with the trustees, taking a copy of the trust deed and TRS statement if your trust is registered.  They will also provide you with an account application form.  Please note, our store colleagues are not trust specialists and will not be able to give you specific advice on your trust or how to complete the application form.  For all those attending store, please bring along ID and proof of address documentation. Do you have a Metro Bank store nearby? If you are unsure, this link will help you locate your closest one. – Store Finder | Metro Bank. You may need to book an appointment.  You can do this by emailing the store on the contact details provided on our website. 

All completed application packs must contain the following forms and documents:

• A completed Trust Account Opening form, signed by ALL trustees
• A certified copy of your Trust Deed/Will
• Any further relevant documentation such as deeds of amendment or a death certificate (all certified as true copies)
• Confirmation of registration on HMRC’s Trust Registration Service, or a valid exemption reason – for all registered trusts, please provide a Confirmation of Registration document. It can be downloaded from the TRS portal using the credentials that were created when the trust was registered. Please note, all individuals declared to TRS must also be input onto the account application form. This includes trustees, settlors and named beneficiaries.
• A signed Individual ID&V form, 1 for each trustee
• We need to complete identity checks on all other key account parties related to the trust – trustees, settlors and named beneficiaries. To do this, their details must be added to the relevant section on the application form.  We then undergo electronic (EID&V) checks to confirm their identity. Please note, if these checks are unsuccessful, we may contact you to request paper ID or proof of address documents. 
• If there is a class of beneficiaries rather than named individuals, the details of the class must be input into the relevant section of the application form. Beneficiaries should only be recorded as part of a class if they cannot all reasonably be identified individually by the trustees. If all the members of the class can be identified individually, they should instead be recorded as individual named beneficiaries both with TRS and on the application form.
• Once all forms and supporting documents are completed, please email to trustaccountopening@metrobank.plc.uk. We will review the application and respond within 10 working days. If anything is missing or unclear, we will ask you to confirm the missing information by email.  Once everything is complete, we will open the account and provide you with a welcome pack containing your account information and instructions about how to register for online and telephony banking.

Professional Advisors – you have the option to complete the above steps with your clients (the trustees) and then submit the completed application directly to us on their behalf. We can then liaise directly with the trustees once the account is open and provide them with necessary account information and instructions on how to use the account. We will of course keep you informed on the progress of the account throughout the process.

Metro Bank will charge a one-off account opening fee of £150. The fee is automatically deducted from the account, once funded.

There’s also a monthly fee of £5 per month for balances below £25,000. If your balance remains continuously above £25,000 this fee is waived.

At Metro Bank, you have a number of options available for transacting and making payments from your Trust Account:  

• Online Banking

If registered, you can request payments up to a daily limit of £21,000 via our Online Banking platform. Please note, payments can only be made if the account signing rule is ‘one to sign’. For accounts requiring two or more to sign, you can view account information but not release funds. Register for Online Banking.

• Telephone banking

Contact our UK-based contact centre at 0345 0808 500. For accounts needing multiple signatories to release funds, a call back to other signatories may be required for authorisation.

• Store payments

Visit any Metro Bank store to request payments or withdraw cash by speaking with our cashier colleagues. They can process requests based on your signing rules. If the account requires two to sign to release funds, both signatories must be present.

• Email payment request

Complete an outward payment authority form to request a payment, signed according to your account’s signing rules. Email the form directly to trust.enquiries@metrobank.plc.uk. We may conduct call backs to verify payment requests.

• Cheque book facility

All trust accounts include a cheque book facility for payments to third parties. You can request a cheque book during account opening or at any time afterwards. All cheques must be signed in accordance with your trust account’s signing rules.

Our dedicated team can support you with opening an account in as little as 10 working days.

Please note that this process can take longer if key information is missing from the application when it’s received.

We recommend contacting your local store.

For you or a family member, use our store finder to locate your nearest store and contact them directly.

Professional advisors or intermediaries can make an enquiry by emailing trust.enquiries@metrobank.plc.uk or speaking to your Local Director at your nearest store.

Our dedicated Trust Centre team are on hand to answer any questions and assist you through every step of your application journey. Please email them on trust.enquiries@metrobank.plc.uk or visit your local store.

We have a team of dedicated specialists in ‘The Trust Centre’. Each member has a deep knowledge of trustee banking and is available to provide expert advice, please email trust.enquiries@metrobank.plc.uk.

The Fixed Term Trust Bank Account is only available to Trust Bank Account customers.

Here’s our eligibility criteria:  

• You can apply to open a Trust Fixed Term Savings account if you are 16 or over, a UK resident and if trustees have been appointed to operate on behalf of the Trust as set out in the Trust Deed.
• When you apply for the Trust Fixed Term Savings account you will need a Metro Bank Trust Account, as the interest on your Trust Fixed Term Savings account must be paid into the Trust Account.
• You can apply in any Metro Bank store or by emailing the Trust Centre on trust.enquiries@metrobank.plc.uk 
• You must pay in one lump deposit of at least £10,000.
• There is no maximum balance that can be held, please contact us for any requests over £10 million.

The Trust Centre is open between 9am-5:30pm Monday-Friday.
You can find the opening times for your local store on our latest store opening hours page.

Our store colleagues are there to help you. But please be advised, they are not trust specialists and are not able to advise on your trust or how to complete the questions on the application form. They can identify the trustees, certify key documents and provide you with a quiet place for you to complete the application form. They will then send your completed application pack to the Trust Centre where it will be reviewed prior to the account being opened.