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ANZ Statutory Trust Account
For funds held in trust for your customers under applicable legislation.
The ANZ Statutory Trust Account is a transaction account that has been specifically designed for businesses that receive money on behalf of their customers and are required by law to hold this money in trust. Almost all real estate agents and solicitors use trust accounts.
The terms and conditions of an ANZ Statutory Trust Account are in line with all appropriate laws and in accordance with bilateral agreements between ANZ and the relevant statutory body.
At a Glance
| Purpose | A transaction account for solicitors, real estate agents and anyone who is required by law to hold money in trust for customers. |
| Interest | In accordance with legislation, interest earned on the ANZ Statutory Trust Account must be paid to a government body or institute. |
| Transactions* | Effective 19 December 2007, ANZ will no longer charge an Account Service Fee, accounts will receive nil free transactions*. |
| Ways to access your account |
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| Business overdraft | Not available with this account. The ANZ Statutory Trust Account must always have a credit balance. |
| Cheque facility | An optional cheque facility is available. |
| Statements | Monthly or on request. You also have 24 hour access to your account details via ANZ Internet Banking** and ANZ Phone Banking** |
| Fees and charges | For all fees and charges, please refer to ANZ Business Banking Transaction Fees and Charges. |
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This product/service is generally suitable for businesses with turnover of $5M to $40M.
©
Copyright Australia and New Zealand Banking Group Limited 100 Queen street, Melbourne 3000 (ABN 11 005 357 522) , 1996-2008.
ANZ's colour blue is a trade mark of ANZ. Any advice does not take into account your personal needs and financial circumstances and you should consider whether it is appropriate for you .
ANZ recommends you read the Product Disclosure Statement and the Financial Services Guide before acquiring the product.