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.
• 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 – please attend your local Metro Bank store to complete your trust account application.

Professional Advisors – please email trust.enquiries@metrobank.plc.uk for instructions about how to submit a trust account application.

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 OR if the trust is created out of a Will, a certified copy of the Will and a certified death certificate for the individual who has passed away.
• Any relevant documentation such as deeds of amendment if there have been changes to the trustees over time.
• 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 website using the credentials that were created when the trust was registered.  Please note, all individuals declared to TRS must also be added to the account opening form.  This includes trustees, settlors and named beneficiaries.  For trusts that are exempt from registration, please add the exemption reason to the relevant section of the application form.
• A signed Individual ID&V form, 1 for each trustee.
• 1 ID document & 1 proof of address document for each trustee.  These documents must be professionally certified– please click here for more details.
• Metro Bank must complete identity checks on settlors and beneficiaries.  Please ensure all their details are added to the application form on the relevant pages.  The bank undergo online 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 in the relevant section of the application form.

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.