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Good afternoon - I am a born, bred and live in the UK. A UK citizen and have been appointed Trustee to my late brother's son's child who lives in South Africa. I need to open a bank account to hold the monies until he is 18 - in about 2½ years. My first two inquiries result in a 'no can do' as he lives outside the UK. I would really appreciate a direction for 'going forward' with this problem. Can you advise ? Regards XXXXX XXXXX
Thank you for your prompt reply - I can wait but will be trying other approaches. Update - 3 international banks cannot/will not process because benefactor is living outside the UK - each of these banks have offshore branches and cannot help. I am told this is a security / terrorist "reason".
2 other lines of enquiries on going but not hopeful.
Thank you for your help "JGM" - looking back at messages, there is one point I missed - sorry - the cheque is made out to " me on behalf of the benefactor" (named), so am unable to follow your advice.
But I have not given up.
This is a long holiday weekend in UK - I am still awaiting reply from interested parties.
I really appreciate your advice and am to follow up when reply/s occur.
Good day - JGM - sorry about the delay, I have approached the 2 banks about opening an account in my name. This is OK but they cannot 'enter/accept the cheque the way it is made out (i.e. my name Trustee for benefactor).
Your 2nd suggestion - letter from payee of the cheque to say there is no objection to an account being opened in your sole name to administer the funds on behalf of the benefactor - reply was "oooh not a good idea".
So am stuck but awaiting reply from another adviser, fingers crossed !
Why solicitors/lawyers/banks take so long to answer questions & help out,no-one seems to know.
Hoping for good news soon, take care, Keith