If you hold a Trustee Reserve Deposit Account, each of the beneficiaries can provide their own specified nominated bank account, listed in your application, in accordance with the Trust Deed. This information is used for withdrawals, where up to two withdrawals are allowed per month. Please note, however, this is subject to a maximum of eight nominated bank accounts per trust.
The Trustee Reserve Deposit Account will act as your nominated bank for other savings products you have with us. For example, at the end of a fixed term, you can transfer some or all of the balance into your Trustee Reserve Deposit Account.