My Bank Says They Do Not Open Accounts For Trusts

February 12, 2013
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Occasionally we receive a call from a client stating that their bank does not open accounts for trusts. If you are having a problem, you might contact the following banks that do accept trust accounts. A word to the wise, I would not mention guns or firearms when talking with a bank as many will not open accounts for gun related issues.

Ally Bank http://www.ally.com/
They do both revocable trusts and Irrevocable trusts.
Monthly Fees: $0.00
Minimum Balance: $0.00
Required Information: Title Page, Signature Page, Notary Page, Amendments and your trust must be funded within 30 days
Fax to 866-699-2969

PerkStreet http://www.perkstreet.com/
They do revocable trusts and Irrevocable trusts.
Monthly Fees: $0.00
Minimum Balance: $0.00
866.792.2834

BofI https://www.bofifederalbank.com/
They do both revocable trusts and Irrevocable trusts.
Monthly Fees: $0.00
Minimum Balance: $0.00
Required Information: Title Page, all Signature Page, Amendments and you must complete a Act Vesting Change form.
(877) 247-8002

Connexus C.U. https://www.connexuscu.org/
They do both revocable trusts but not Irrevocable trusts.
Monthly Fees: Varies
Minimum Balance: $0.00
Required Information: Title Page, Successor Page, All Signature Pages, Notary Page, Amendments and membership application
800-845-5025

Everbank https://www.everbank.com/
They do both revocable trusts and Irrevocable trusts.
Monthly Fees: $0.00
Minimum Balance: $0.00
Required Information Revocable: Personal info for everyone on trust, definitions page, all signature pages
Required Information Irrevocable: personal info for everyone on trust, copy of entire trust.