Statutory Trust Account
A trust account to meet the specific needs and statutory requirements of Law firms seeking to hold funds in trust with the Law Society of NSW per industry requirements.
Category: Trust Accounts Last Updated April 30, 2026 Effective June 3, 2026
General Lending Rates
No product information is currently listed. Please make contact with us for more information.
Product Features
- Unlimited Txns Additional Information: Full branch access for deposits, withdrawals or counter cheques, however no cash withdrawals are allowed.
- Other Additional Information: A cheque book is available on request. For full details refer to our Conditions of Use. Fees and charges apply.
- Digital Banking Additional Information: Bank 24/7 wherever you are and whenever you want with RAB mobile and internet banking.
- Other Additional Information: Combined balances of up to $250,000 per account holder are guaranteed and secured by the Australian Government.
Product Eligibility
- Other Additional Information: The customer must be a trading Law Firm.
- Other Additional Information: A Statutory Trust Account must be operating alongside a general account under the same membership number so that any fees relating to the operation of the trust can be charged.
- Other Additional Information: As a customer-owned bank, customers must also become a shareholder of Regional Australia Bank to be eligible to open an account.
Bank Fees and Charges
- Staff Assisted Fee- Industry Trust Accounts (Transaction), Amount: 2.25. Additional Information: Applies per withdrawal or debit transfer processed by branch or Service Support Centre Staff. No fees can be charged to this account. Any applicable fees will be charged to another account under your membership.
- Cheque Deposit Fee (Deposit), Amount: 0.50. Additional Information: Your first 10 cheque deposits to your membership each month are free, each subsequent deposit will be charged per cheque. No fees can be charged to this account. Any applicable fees will be charged to another account under your membership.
- Financial Institution Cheque Fee (Event), Amount: 11.00. Additional Information: Applies for each bank cheque you order from us. No fees can be charged to this account. Any applicable fees will be charged to another account under your membership.
Limitations & Restrictions (Constraints)
- Min Balance of 1.00 Additional Information: A minimum balance of $1 is required to earn interest on this product.
