Estate Bank Account UK (2026): Opening an Executor Account for Probate

The law does not require an executor to open a separate bank account for the estate — technically, the executor could manage estate funds through their own personal account. However, using a dedicated estate account is almost universally recommended by solicitors and professional bodies for several important reasons: (1) Separation of funds: mixing estate money with personal funds creates confusion over what belongs to the estate and what belongs to the executor personally. If the estate is later challenged by beneficiaries or HMRC, the executor would struggle to account for the funds; (2) Transparency: estate accounts allow the executor to produce clear, auditable records of all income received, expenses paid, and distributions made — which is a legal duty under the Administration of Estates Act 1925 s.25 (duty to exhibit accounts on demand); (3) Preventing devastavit: if the executor pays personal expenses from estate funds or mixes them with their own, this is a form of devastavit (wasting of estate assets) and creates personal liability; (4) Practical necessity: solicitors selling a property, investment platforms making distributions, and HMRC issuing tax refunds all need a dedicated estate account to pay into; (5) Trustee Savings Accounts: if the estate includes a continuing will trust (for example, a life interest trust or a trust for minor beneficiaries), a separate trust account will need to be opened once the estate administration phase is complete and assets are transferred into trust. The estate account and the trust account are separate. Note: executors do not have to open an account before probate is granted — in practice, the account is usually opened once the grant of probate is obtained.

All major UK high street banks offer some form of executor or estate administration account, though the products and requirements vary: (1) Barclays: the Barclays Estate Administration Account is one of the most commonly used. It is interest-bearing and requires a grant of probate plus the executor's own identification. Up to four executors can be named on the account; (2) HSBC: HSBC offers an estate administration account, accessible through HSBC branches or the bereavement team. Interest is paid on the balance. HSBC requires the original grant of probate (which is returned), two forms of ID for each executor, and (usually) an in-branch appointment; (3) NatWest/RBS: offers an estate account through its bereavement team. Contact via the dedicated number on the NatWest website. Also accessible online once opened; (4) Lloyds Bank/Halifax: Lloyds offers a dedicated executor account with internet banking access. Contact the Lloyds bereavement and estate administration team; (5) Nationwide: while primarily a building society, Nationwide offers estate administration services through its bereavement team; (6) NS&I (National Savings & Investments): NS&I can pay out Premium Bond winnings and other savings to an estate account — it does not offer a dedicated estate account itself; (7) Smaller banks and building societies: some regional building societies (Yorkshire, Coventry) also offer basic estate accounts. The application process is typically simpler than for high street banks; (8) Professional executor accounts: solicitors and professional trustees often use solicitor client accounts or specialist trust company accounts rather than high street estate accounts. For a personal executor managing a straightforward estate, a high street estate account is usually sufficient.

The documents required to open an estate bank account are standard across most banks, though specific requirements vary slightly: (1) Grant of Probate (or Letters of Administration): the original or an official court-sealed copy — not a photocopy. The bank will typically take a certified copy and return the original. In some cases, the bank requires the original to be presented in branch; (2) Death Certificate: a certified copy of the death certificate (issued by the register office). Most banks require one copy; (3) Executor identification: each executor named on the account must provide: photo ID (passport, driving licence); proof of address (utility bill or bank statement dated within the last 3 months); for non-UK nationals, additional ID may be required; (4) Will (optional): some banks ask to see a copy of the will, particularly to confirm the executor's appointment — though the grant of probate technically already confirms this; (5) Before probate: most banks will not open a dedicated estate account before probate is granted, because the executor has no formal legal authority to administer the estate until the grant is issued. Some banks allow a basic 'holding account' to be opened in the interim, but this is uncommon; (6) Letters of Administration: if the deceased died without a will (intestate) and the administrator has obtained Letters of Administration, the same process applies — the Letters of Administration substitute for the Grant of Probate as proof of authority. Practical tip: contact the bank's bereavement team (not a branch) before visiting to confirm the exact documents required — lists vary and change over time. Many banks now offer an initial appointment by phone or video call.

Yes — interest earned on an estate bank account is income of the estate, not personal income of the executor. It is subject to income tax at the personal representative's rate: (1) Tax rate: personal representatives pay income tax on estate income at the basic rate of 20% on interest and savings income. There is no personal savings allowance for the estate; (2) SA900 reporting: if the estate earns income (including interest on the estate account) above £500 in any tax year, and the administration period spans more than one tax year, the executor must register the estate for Self Assessment and file an SA900 Trust and Estate Tax Return annually; (3) If the administration is completed within a single tax year: the income may be reported informally to HMRC without an SA900, provided the total income is modest; (4) Reporting to beneficiaries: when the estate is distributed, any income received by the estate (including interest) that is payable to a residuary beneficiary is reported on an R185 (Estate Income) certificate. The beneficiary uses this to claim back any tax overpaid if their personal tax rate is lower than 20%, or to pay additional tax if they are a higher-rate taxpayer; (5) Current interest environment: with bank base rates at elevated levels in 2026, an estate account holding significant funds (for example, during a long probate on a large estate) may accumulate meaningful interest income — executors should budget for the SA900 filing requirement and the associated income tax if the administration is expected to extend beyond one tax year.

Co-executors can and should share a single estate bank account: (1) Joint account for co-executors: most banks allow up to four executors on a joint estate account. All named executors have signing authority. The bank may require either all executors to sign together (for large transactions) or may allow any single executor to operate the account independently. In practice, most co-executors choose a 'sole authority' arrangement so that day-to-day transactions do not require all signatories; (2) Disagreements between co-executors: the estate account itself does not resolve governance disputes between co-executors. For legal decisions relating to the estate (entering contracts, making distributions), co-executors must generally act unanimously (unlike trustees, who can act by majority). A dispute about a major estate decision may require a court application under CPR Part 64; (3) One executor dies during administration (Chain of Representation): if one co-executor dies during the administration, the surviving co-executor(s) continue with full authority (Administration of Estates Act 1925 s.7). The bank should be notified of the death and the deceased executor's name removed from the account; (4) Sole executor dies during administration: if the sole executor dies before completing the estate administration, the executor of the estate of the deceased executor steps in to administer the first estate (the Chain of Representation under AEA 1925 s.7), unless the first estate's executor had renounced or the chain is broken. The new personal representative will need to be added to the estate account; (5) Professional executors (solicitors, trust corporations): if a trust corporation or solicitor firm is the executor, the account is held in the corporation's name on behalf of the estate — individual signatories are authorised persons within the firm.