Designed for financial service businesses looking to receive, hold, and send money for the benefit of (FBO) their clients. The account holder legally owns the account and the funds while the account holder’s client is the beneficial owner of the funds. Pool funds can be held in a FDIC insured account (up to $2.75M) and/or invested for yield as instructed by the account holder*
Designed for businesses looking to hold and invest their own money. Useful when amounts are significant, and the client seeks a return without active trading. Funds can be invested at client direction in thousands of financial instruments from hundreds of institutions in markets around the world, including FDIC insured accounts up to $2.75M.*
Escrow is for principals that need to transfer funds between multiple parties with the help of an unbiased intermediary. The Escrow account holder both legally and beneficially owns the funds in the account and then ownership of the account, along with its assets, transfers to the designated beneficiary upon satisfaction of mutually agreed conditions of disbursement, which is determined by the Trust Officer. Often, on a large or repeating two-party transaction, the seller and buyer will each open their own Trust account and the Escrow will used to transfer funds from the buyer’s account to the seller’s account. Funds are typically held in an FDIC insured account or, for very large amounts, directly in Treasuries.