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Bendigo have had internal directives to steer clear from ‘non-registeted’ trusts.
We have tried opening an account for a nfo ngo ‘association’ and their response was…
“Currently the Bank requires a not-for-profit association to be registered with ACNC ( Australian Charities & Not-for-profit Commission).”<o:p></o:p>
Then we tried to open an account for our discretionary trust from the Solutions trust makers and hit a wall straight away. Having built a relationship will them, we were told they had directives earlier in the year to avoid ‘these kind of trusts’, as to why exactly she didn’t know but she was aware they were growing in popularity and mentioned a good friend of hers had success with NAB after being knocked back by Bendigo.
We also have a good friend who knows a regional manager of Bendigo who in turn confirmed they will not accept them.