Statutory Trust Accounts

Accounts that allow you to hold funds in trust in accordance with the applicable laws.

Benefits

Flexibility

No minimum or opening balance required.

24/7 Access

Manage your banking through Online Business Banking. 1

Additional facilities

Cheque access, plus Direct Debit and Periodical Payment facility available. 1

Types of trust

You've got three options to choose from.

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.

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Things you should know

1. 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.

2. There is no entitlement to a rebate when the credit balance falls below $1,000 at any time during the month. The rebate amount cannot exceed the amount of fees charged in the month.