Maintain, Control and Manage Funds That Are Entrusted to You
Business Trust Account
Effectively manage risk and monitor funds when you need to hold money on behalf of your clients.
Monthly Fee: Based on your operating account
Minimum Balance: None
This Account May Be Right for Your Business If:
You need to hold money on behalf of your clients to satisfy legal or business requirements
You need to segregate funds of multiple beneficiaries
You want the money entrusted to you to earn interest
Competitive Interest Rates
Get access to competitive market rates on the funds held on behalf of your clients.
Easy to Use and Understand
Comprehensive instructions to help you administer your account(s). You’ll have access to all the tools and tips available to help you manage your account successfully.
Reconciliation and Auditing Made Easier
Take advantage of a streamlined, and efficient reporting service, making record keeping and reconciliation much easier and faster.
Multiple Accounts Under One Umbrella: Manage a large number of sub-accounts under one control account.
CDIC Eligible: All funds in individual sub-accounts are eligible for deposit insurance by CDIC.
Trusteed Deposit Service: Efficiently maintain, monitor, report and audit individual trust accounts.
Trusteed Deposit Service
If your firm manages many low-activity trust accounts, the Trusteed Deposit Service is right for you. You may use it to help you efficiently maintain, monitor, report and audit individual trust deposits.
You want to safeguard your clients’ (beneficiaries) assets and monies held in trust and are looking for an easy process to open and close individual trust accounts. The Trusteed Deposit Service has many benefits, such as:
Competitive interest rates on accounts
Easy to use, comprehensive operating instructions for administration
Streamlined, efficient reporting, for easy reconciliation and auditing of individual beneficiaries trust deposits
Secure knowledge that funds within individual trust accounts are eligible for deposit insurance by CDIC
Mitigate risks associated with managing monies held in trust
Business Trust Account Monthly Fee: Based on your operating account
Each subsidiary account is eligible for deposit insurance with Canada Deposit Insurance Corporation (CDIC) for coverage of up to $100,000.
Trusteed Deposit Service Monthly Fee: Please speak to your RBC® account manager or call an RBC business advisor at 1-800-769-2520
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