Business Accounts & Plans
Client Trust Account
This account is an ideal choice for individuals, businesses or organizations which hold funds “in trust” for clients during their normal course of business (e.g. lawyers and real estate agents who pay interest to their clients on funds held in trust). Our Client Trust Account provides a consolidated position while tracking each participant’s contributions and interest earnings.
What a Client Trust Account Offers You
- Separate monitoring of the daily balance for each trust deposit
- Periodic statements showing each participant’s trust deposit contributions
- Automatic tax receipts for each participant
- Interest calculated on the daily closing balance and credits to individual participants’ account on statement close-off date
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The Benefits of a Client Trust Account
- Earns interest on funds while “in trust”
- Reduces workload as it simplifies accounting for “in trust” deposits
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For more information, contact a Relationship Manager at the Commercial Banking Centre nearest you.
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