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Small Business > Business Accounts > Business Trust Account

Business Trust Account

You are on: Features & Benefits

If you need a solution to hold money on behalf of your clients to satisfy legal or business requirements, we have three trust solutions for you:

1. Formal Trust Account: This can be used when a trust has been created by way of a legal document such as a trust agreement or will, and the account will be established in the name of the trust. Available in CAD and USD.

2. Business In–Trust Account: This can be used when a business needs to hold funds for another individual or entity, and the account will be established in the name of the business (i.e. the trustee). Available in CAD and USD.

3. Trusteed Deposit Service: This service can be used to help segregate trust funds of multiple beneficiaries for easier recordkeeping by establishing a separate sub-account for each beneficiary. Available in CAD.

You are on: Fees

Fees are based on the general operating account that you have chosen for the trust account. To determine the best account for your needs, please use our Business Account Selector.

Each subsidiary account is insured with Canada Deposit Insurance Corporation (CDIC) coverage of up to $100,000.

 

Open Your Business Trust AccountOpen Your Business Trust Account

Contact your RBC account manager to open a trust account. Standard account opening requirements apply. For formal trust accounts, you will also be required to disclose information about all trustees, settlors and known beneficiaries of the trust. When you open the account, please let us know that you need a trust account.