Solicitor's Trust Account
An interest bearing account designed to help legal representatives lodge funds belonging to their clients.
Interest is paid quarterly and remitted to the PNG Law Society. Funds are available at call by cheque book. Solicitors can use the trust account to keep clients' funds separated from their own and for the convenience of making payments by cheque.
Features:
- No minimum balance
- Cheque access (all cheque payments must be made to the trustee)
- Funds are at call and can be accessed at any time with no withdrawal restrictions
- Free monthly statements
- No account keeping fees
Benefits:
- Your clients' funds are kept quarantined
- No account keeping fees
- Convenience of chequebook access
For further information please speak with your Relationship Manager or call BSP Corporate Banking toll free on 180 1100 or +675 305 7900.