deposit-taking institutions

Under the Legal Profession Uniform Law (NSW), a general trust bank account can only be established at an authorised deposit-taking institution (ADI).

General trust accounts

The following institutions are authorised to hold general trust accounts in NSW.


  • Australia & New Zealand Bank Ltd
  • Bendigo and Adelaide Bank
  • Bank of Queensland Ltd
  • Bank of Sydney Ltd
  • Bankwest (formerly Bank of Western Australia Ltd) [ceasing to offer Statutory Trust Accounts]
  • Commonwealth Bank of Australia
  • Greater Bank Ltd
  • Macquarie Bank Ltd
  • National Australia Bank Ltd
  • St George Bank Ltd
  • Westpac Banking Corporation

Building Societies

  • The Mutual Building Society Ltd (The Mutual)
  • Newcastle Permanent Building Society Ltd (New Statutory Deposits unavailable)

Credit Unions

  • Regional Australia Bank Ltd
  • Southern Cross Credit Union Ltd

Controlled money accounts

A controlled money account may be opened with any of the above ADIs or any other ADI. See the Australian Prudential Regulation Authority’s approved list of ADIs.