What is Trust Bank?
Trust Bank, is a financial institution that specializes in offering people, companies, and organizations fiduciary services. It manages trusts, estates, investments, and other assets on behalf of clients. It differs from regular banks as it concentrates on managing assets other than deposit accounts and lending services. These services could involve managing investment portfolios, handling estate administration, serving as trustees, executors, or guardians, and offering financial planning guidance. To preserve and increase their wealth, make plans, and make sure that their assets are managed and distributed according to their preferences and legal obligations, trust banks are essential. To guarantee compliance with fiduciary responsibilities and protect their client’s interests, they are overseen by regulatory bodies.
Table of Content
- History of Trust Bank
- Trust Bank Examples
- Objectives of Trust Bank
- Functions of Trust Bank
- How to Open Trust Bank Account?
- How Trust Bank Accounts Work?
- Eligibility to Open Trust Bank Account
- Types of Trust Bank Account
- Advantages of Trust Bank
- Disadvantages of Trust Bank
- Trust Bank FAQs