Custodian Banks

Trust Account

What is Trust Account A trust account is a financial arrangement created to hold money or assets on behalf of one or more beneficiaries, with those funds being administered by a designated trustee.

Custodying

What is Custodying. Custodying refers to the process of holding, managing and safeguarding funds or assets on behalf of clients. It defines how money is controlled, where it is stored and what legal and operational responsibilities apply to the entity providing custody services.

Custodial Account

What is a Custodial Account. A custodial account is an account where funds or assets are held by one party on behalf of another. The custodian is responsible for holding, managing and safeguarding the assets, while the beneficial ownership remains with the client.

Client held for benefit of (FBO) account

What is Client Held For Benefit Of (FBO) Account. Client held for benefit of (FBO) account is a financial account opened and managed by one party on behalf of another beneficiary.

Bank-Owned For Benefit Of (FBO) Account

What is a Bank-Owned For Benefit Of (FBO) Account. A bank-owned for benefit of (FBO) account is a specialized financial arrangement in which a bank or other regulated entity holds funds in its own name, but those funds are clearly designated for the benefit of another party.