Statutory Trust Accounts

Everyday business trust accounts for solicitors, real estate agents and settlement agents

An account that allows you to hold funds in trust in accordance with the applicable laws.

 

Save on fees

Low monthly maintenance fee

 
 

Flexibility

No minimum or opening balance required

 
 

Access 24/7

Manage your banking through Online Business Banking *

 

Solicitor Trust Account

The Solicitor Trust Account is available to solicitors operating in all Australian states (excluding Tasmania) and some territories.

  • No minimum opening balance
  • Fee rebates may apply^
  • Cheque access
  • Direct Debit and Periodical Payment facility available*

Fees

  • Monthly maintenance fee of $5.00 may apply
  • Up to 5 free paper transactions per month, $0.60 per paper transaction thereafter
  • Up to 5 free electronic transactions per month, $0.25 per electronic transaction thereafter

Real Estate Agent Trust Account

The Real Estate Agent Trust Account is available to agents operating in all Australian states (excluding Tasmania and Victoria) and some territories.

  • No minimum opening balance
  • Cheque access
  • Direct Debit and Periodical Payment facility available*

Fees

  • No monthly account maintenance fee
  • Up to 20 free paper transactions per month, $0.60 per paper transaction thereafter
  • Up to 20 free electronic transactions per month, $0.25 per electronic transaction thereafter

Settlement Agent Trust Account

The Settlement Agent Trust Account is only available in Western Australia.

  • No minimum opening balance
  • Cheque access
  • Direct Debit and Periodical Payment facility available*

Fees

  • No monthly account maintenance fee
  • Up to 20 free paper transactions per month, $0.60 per paper transaction thereafter
  • Up to 20 free electronic transactions per month, $0.25 per electronic transaction thereafter

Important things to know

Fees and charges incurred in connection with any trust account cannot be debited to the trust account itself. Customers must nominate another account held with Bankwest to which fees and charges can be charged. Other fees and charges may apply, for details refer to the Product Disclosure Statement.

Withdrawals are subject to compliance with the relevant Acts and/or Regulations of the State or Territory in which the Account is opened. Some States or Territories prohibit cash withdrawals; others require withdrawals to be made only by cheque.

*Availability of these facilities is subject to compliance with the relevant Act and/or Regulations of the State or Territory in which the Statutory Trust Account is opened. Some States and Territories prohibit electronic transactions. Some States or Territories prohibit cash withdrawals; others require withdrawals to be made only by cheque.
^There is no entitlement to a rebate when the credit balance fall below $1,000 at any time during the month. The rebate amount cannot exceed the amount of fees charged in the month.

Bankwest SWIFT code: BKWAAU6P | Find your BSB by logging into Online Banking.

© 2016 Copyright Bankwest, a division of Commonwealth Bank of Australia (Bankwest) ABN 48 123 123 124 AFSL / Australian credit licence 234945. All rights reserved. To use this Website, you are required to read the Financial Services Guide (which you agree to be provided by accessing the link). Bankwest is a division of Commonwealth Bank of Australia, which is the product issuer unless otherwise stated. Rates stated are subject to change without notice. Any advice given does not take into account your objectives, financial situation or needs so please consider whether it is appropriate for you. For deposit and payment products, please ensure you read and consider the Product Disclosure Statement (which you agree to be provided through this link) before making any decision about the product(s). For lending products, lending criteria and fees and charges apply. Terms and conditions apply and are available on request.