Statutory Trust Account

This product is a specific purpose account for members of professional associations such as solicitors, real estate agents, conveyancers, motor dealers who are required to meet specific legal requirements when holding and managing funds on behalf of their clients.
Category: Transaction & Savings Accounts  Last Updated May 4, 2026  Effective June 3, 2026

 General Lending Rates

No product information is currently listed. Please make contact with us for more information.

 Product Features

  • Free Txns Additional Information: 5 fee-free transaction allowance and 15 fee-free cheque deposits
  • Notifications
  • Other Additional Information: Helps you comply with statutory requirements when holding clients' funds in trust
  • Other Additional Information: If you are a solicitor, real estate agent, collection agent (QLD), conveyancer, or settlement agent (WA), you may be required by law to deposit funds held on behalf of your clients, into a Statutory Trust Account. This is a special type of account designed to comply with statutory requirements, and it may require you to provide certain details or documents at account opening.
  • Digital Banking Additional Information: With PayTo, you can see, review and authorise all new PayTo payments for things such as recurring bills, memberships and subscriptions before the money leaves your account.
  • Other Additional Information: Statutory Trust ? Real Estate Agents account is suitable for real estate agents (in all states) and collection agents (in Queensland)
  • Other Additional Information: Statutory Trust ? Solicitors account is suitable for solicitors
  • Other Additional Information: Statutory Trust ? Conveyancers and Settlement Agents account is suitable for conveyancers (in all states) and settlement agents (in Western Australia).

 Product Eligibility

  • Min Age - 18. Additional Information: Applicant plus all signatories
  • Other Additional Information: Operating in Australia with an Australian address
  • Other Additional Information: Must be a member of a professional association and required by law to deposit funds held on behalf of clients in statutory trust accounts
  • Other Additional Information: Needs an eligible business transaction account from which fees and charges can be debited.

 Bank Fees and Charges

  • Account Keeping Fee (Periodic), Amount: 6.00.
  • Internet Banking (Transaction), Amount: 0.00. Additional Information: A transfer between your BankSA accounts, a transfer from your account to another account held within Australia, BPay and PayTo payments.
  • Phone Banking (Transaction), Amount: 0.00. Additional Information: A transfer between your BankSA accounts, a transfer from your account to another account held within Australia and BPay payments. Excludes staff assisted transactions.
  • Eftpos (Transaction), Amount: 0.00. Additional Information: An eftpos transaction other than transactions undertaken on an EFT Terminal.
  • Direct Credit (Deposit), Amount: 0.00. Additional Information: This fee is not charged for Solicitor's Trust Account.
  • Cheque Clearing (withdrawal) (Withdrawal), Amount: 3.00.
  • Cheque Clearing (deposit) (Deposit), Amount: 3.00. Additional Information: This fee is charged for each withdrawal relating to a cheque drawn on your account. This fee is not charged for Solicitor's Trust Account.
  • Staff Assisted Transactions (Transaction), Amount: 3.00. Additional Information: This fee is not charged for Solicitor's Trust Account.
  • Bank@post (Transaction), Amount: 0.00.
  • Collection Item (Transaction), Amount: 3.00. Additional Information: This fee is not charged for Solicitor's Trust Account.
  • Direct Debit (Withdrawal), Amount: 0.00.
  • Agency (Transaction), Amount: 0.00.
  • Overdrawn Fee (Event), Amount: 15.00.

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