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I know this because I am a millionaire (not actually so rare in the UK now). No bank will accept a deposit account that large, they will turn you straight over to their investment side and you will be offered options in trusts or other forms of fund management. Even private banks (and I also know this to be true through experience) will want you to invest that kind of sum rather than let you keep it on deposit. And to be honest you will be better off that way. Do some research and find a good financial management company and let them invest for you. You will have to take the ups and downs of the stock market (I am over a £100,000 down since July) but what goes down will come up again and you will still get dividends every year. (£50,000 in dividends last year, due to good accountants I will only pay a small amount of income tax and the rest will be taxed for capital gains in the future).
Banks aren't the best option and the lottery advisers will explain that to you very carefully. (yep, winners do get some financial advice from the lottery.)
(godisdove I like cheese, Sun 26 Oct 2008, 1:53, Reply)