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Banks that accept unreg trust banks that don’t
Hi all,
I’ve attended both these banks today and they are both quite admit about needing to add all beneficiary names to their process.
They can’t give me a clear reason why they need them only that they are complying to regulations set via ASIC, which I responded that we are non registered and therefore we don’t report to them or the tax office.
Has anyone else had trouble with these two banks?
I had no trouble with setting up an account with comm bank, waiting on Bendigo bank to get back to me as to what their next step is.
i have appts with ANZ and Westpac this coming Monday so will report back if there are any hiccups.
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3 Replies
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I set up our trust bank account with Commonwealth. It was surprisingly simple. I made sure to not use the term ”Private Trust”. 😉
Good luck with your efforts. 🙂
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Me too. CBA.
Stay away from Westpac. I know from experience. Not good at all.
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hey…at that stage now…did it take long to set up with cba? bendigo telling me at the moment its up to 3 weeks. also, did u have yr beneficiery names on schedule page? thanks for any input
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