How do I open a Charitable Trust / Trust Account?

A charitable trust is not incorporated, so it cannot enter into contracts or own property in its own right.

1. A charitable trust is a type of charity run by a small group of people known as trustees. The trustees are appointed rather than elected, and there is no wider membership. A charitable trust is not incorporated, so it cannot enter into contracts or own property in its own right.
2. We would open the account in one person’s name (the lead person for the trust) i.e. an individual account so would need to ensure that person is authorised by the trust to act on its behalf.
3. We can pay interest to the trust account so long as they use this account when setting up with us (as with any other account).  We would need a bank statement for that account and it would need to have the lead person’s name on the statement.