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How to:

Complete bank verification for trust/company accounts

Need to verify bank details for a trust or company account? Follow this quick and easy guide.

Once we’ve verified the bank details, we won’t need to do this again for future instructions.

Key things to remember

Bank Statements must be dated within three months, and must include:

  • Account number
  • Account name
  • Sort Code
  • Client’s address
  • Wet signed and dated certification on the page with the client’s address, sort code and account number. None of the certification can be done electronically.

Bank statements, continued:

  • We can accept a printed out online version of the statement, provided all the information specified is on one page and it’s certified. It would need to be in the usual statement format with the relevant information – not just a transaction list.

To certify documents the certifier should:

  • Add the statement ‘Certified as a true copy taken from the original’
  • Print their name clearly in capitals underneath their signature
  • Record the capacity or position in which they are certifying the document
  • Firm name and address
  • Wet sign and date the copy documentation on all pages

People who we can accept certification from include:

  • Financial Adviser
  • Solicitor
  • Lawyer
  • Councillor
  • Minister of Religion
  • Chartered Accountant
  • Bank/Building Society
  • Police Officer
  • Doctor
  • Dentist
  • The Post Office.

Adviser Zone journey

From the Adviser Zone dashboard;

Go to ‘Investor Details’

  • You can find this by searching for the client, clicking the ‘Maintenance tab’ and then selecting ‘Investor details’.

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For verifying the bank details of a trust/corporate account we will need:

  • The Bank Details Form wet signed by two trustees (unless there is only one) or digitally signed using an approved supplier.
  • For third party trust accounts, we can accept digital signatures.

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AND a certified copy of a UK bank statement dated within the last three months and showing client’s/trust’s name, address, sort code and account number

  • For corporate accounts, the bank account must be in the name of the company and not the Director.
  • For trust accounts the bank account needs to be in the name of the trust. We can’t accept bank accounts in the sole name of the underlying client.
  • For small trust accounts, we can accept bank accounts in the name of a trustee.

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You will also need to send us a certified copy of the Signatory List and Trust Deed.

  • Both documents will need to be certified on every page.
  • Whoever signs the bank details form must also be present on the signatory list
  • If the Signatory List is unavailable, because this is a smaller trust, then we’d need either a certified copy of the passport (both pages, not just the photo page) or driving license of the trustees.

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What happens next

Once the documentation has been reviewed, and we’ve checked that it meets the required criteria, we’ll verify the bank details on our system. If we need further information to complete the verification process, we’ll contact you to ask for the necessary documentation.

The ‘Bank Verification’ report within Report Zone enables you to identify all clients whose bank details have either been verified or remain unverified on the system.

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Contact our team today

Whether you're looking to start using our service, or simply have a question for us, we're just a phone call or email away. Lines are open 9am to 5pm Monday to Friday. To help us improve our service, we may record or monitor calls.
contact for support

For Wealthtime platform queries, call
0345 680 8000

For Wealthtime Classic platform queries, call
03330 417 010