Trust account FAQs

A trust account is one held by trustees, not for themselves but for the beneficiaries of the trust.

With our RaboPlus savings account, there are no fees, no minimum balance and no minimum term. 

The trustees of the trust. 

Simply complete the online application form and send the following information to us:

• Signed account summary form

• Signed direct debit authority

• Linked account bank statement (current copy) or an encoded bank deposit slip for the linked account or a print out of your online transaction summary. Please ensure that your name and the account number are displayed on what you provide to us.

• An original or certified copy of the Trust Deed

• For incorporated bodies acting as trustee, a copy of certificate of incorporation and the names of company directors

• For authorised signatories:
  RaboPlus will use information provided on the account opening form to perform an electronic identity check. In some cases we may contact you and request additional information to be provided to us in the form of a certified copy of your Drivers Licence, Birth Certificate or Passport.
   

A trust can only have one master account with RaboPlus, however with RaboPlus savings accounts, you can open a master trust account and have 5 more purpose savings account under your master trust account.

The trustees must nominate an authorised signatory to the account who will be responsible for the account and therefore also for the Digipass that enables access to the account/s. 

The initial account opening deposit is made via direct debit from your linked account. After that, you can use your RaboPlus account to transfer money between your linked trust account and RaboPlus account whenever you like. Or set up a regular savings plan to regularly pay funds into your RaboPlus account.