For our Trustee Reserve Deposit Account, each beneficiary/trustee can provide their own nominated bank account in the application. Up to two withdrawals per beneficiary/trustee are allowed per month. Please note, this is subject to a maximum of eight nominated bank accounts per trust.
The Trustee Reserve Deposit Account will act as your nominated account for our Trust Savings accounts, at maturity of a fixed term or notice period if we do not receive further instructions from you the balance will be placed into the Trustee Reserve Deposit Account.