Fiduciary Banking
The deposit account can beestablished for the benefit of a single owner or a commingled account may be established for the benefit of multiple owners. The individual or entity opening the account does not have an ownership interest in the deposit.
Fiduciary relationships include, but are not limited to, arrangements involving:
• a trustee
• an agent
• a nominee
• a custodian
• a guardian
Types of Fiduciary Accounts
Fiduciary accounts include but are not limited to the following:
• Accounts with a power of attorney
• Decedent estate accounts
• Real estate and other escrow accounts
• Brokered deposits