Authorised

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.

Banks

  • Australia & New Zealand Bank Ltd (find out more at ANZ)
  • Bendigo Bank (find out more at Bendigo Bank)
  • Bank of Sydney Ltd (find out more at Bank of Sydney)
  • Commonwealth Bank of Australia (find out more at CBA)
  • Macquarie Bank Ltd (find out more at Macquarie)
  • National Australia Bank Ltd (find out more at NAB)
  • St George Bank Ltd (find out more at St George)
  • Westpac Banking Corporation (find out more at Westpac)

Building Societies

  • The Mutual Building Society Ltd (The Mutual) (find out more at Mutual)
  • Newcastle Permanent Building Society Ltd (New Statutory Trust & Deposit accounts are unavailable)

Credit Unions

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.