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Statutory Trust Accounts

Accounts for custodians who are legally required to hold money for clients.

To open an account with us:

Find my nearest store Call 13 11 55

What is a statutory trust account?

Statutory trust accounts are for specific groups or organisations that need to hold money for clients.  As the requirements for how these trust accounts operate differs depending on your type of business, we have 2 options available: Solicitor’s Trust Accounts and Agent’s Statutory Trust Accounts.

A Solicitor’s Trust Account is a specialised account for Queensland solicitors who are legally required to hold client monies in a statutory trust.  It can be used  for conveyancing, probate work, litigation settlements, commercial transactions (e.g. Floating Companies) and matrimonial money held under Court Order whilst holding client funds on trust.

Key features

  • Access your account using the Branch or your chequebook
  • Check transactions and balances anytime using Internet or Telephone Banking
  • Unlimited Fee Free Electronic, Staff Assisted, and Cheque Transactions
  • Monthly statements
  • No interest is paid to the account holder. Instead, interest earned is paid to the Department of Justice and Attorney General in accordance with legislation
  • All fees associated with the Solicitors Trust Account will be debited to your nominated Suncorp Business Account

Fees

Description

Account-keeping fee

Branch deposits

Cheque withdrawals

Cheque deposits

Direct Credits

Fee

No Fee

Free

Free

Free

Free

Product information document

For more information about our Trust Accounts, please read the Product Information Document

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Business Deposit Products are issued by Suncorp-Metway Ltd (“Suncorp Bank”) ABN 66 010 831 722 AFSL No 229882. Fees, charges, terms and conditions apply and are available on request.

Products and services including banking, superannuation and insurance (including life insurance, home and car insurance) are provided by separate companies in the Suncorp Group. Suncorp Bank is only liable for the banking products or services it provides and not the products and services of the other companies in the Suncorp Group.

© Copyright Suncorp-Metway Ltd ABN 66 010 831 722. Head office: Level 28, 266 George St, Brisbane Qld 4000