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Thread: Suggestions for a low cost bank account

  1. #1
    just me duncan drennan's Avatar
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    Suggestions for a low cost bank account

    Does anyone have any suggestions as to which bank has the best (read cheapest) type of account that I can open in the name of a trust? There will be one or two transactions a month, and I want to find what ever option will cost me the least. Thanks
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    just me duncan drennan's Avatar
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    okay, I can't really say whether there is one or another bank account that is better, it all really just depends on your purpose and what features you need. If you don't need debit/stop orders, there are bank accounts for that, if you need your lawn mowed regularly, there are bank accounts for that, etc

    Anyway, what I did remember while talking to one of the trust consultants is that a trust is not (technically) a "real" entity in terms of SA law, it is kinda like a natural person and also kinda like a juristic person. Basically what that means though is that you can open up any kind of account that you can as a natural person.

    Shop around and see what fits for your needs—sorry I can't be of more help
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    No reply yet, so which bank did you choose?

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    Site Caretaker Dave A's Avatar
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    My thought was one of those cheap cash card type setups - I'm just not sure they're available for trusts.
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