Our Old Glory Trust Checking account is a useful tool for trustees to manage funds.
An Old Glory Bank Trust Checking account is a useful tool for trustees to quickly and efficiently carry out transactions related to a trust without co-mingling external funds.
- There is a $75.00 set-up fee for Trust Checking accounts.
- Old Glory Trust Checking is ONLY a checking account. We can't rename or convert existing consumer checking or savings accounts to be titled in the name of the trust. Our trust checking accounts are business accounts, not consumer accounts.
A Trust Checking account is:
- An account held within a trust that is used by a trustee to facilitate transactions as mandated by a trust agreement.
- Is FDIC insured.
- May be combined with assets from multiple sources, including cash savings and insurance policies, and other places.
- Is titled in the name of the trust and has the same tax ID number.
- Used to pay expenses like debts, utility bills, insurance, and funeral expenses.
- Used to distribute assets to beneficiaries.
Old Glory Bank Trust accounts are opened by our Old Glory Bank Business Banking team.
To apply for an Old Glory Bank Trust Checking account:
- Submit your contact information to make a reservation via the form found here:
Business Accounts | Old Glory Bank
Note: Our systems are built to recognize classic domains. If you use an unusual domain, it is possible you will get an error and not be able to proceed with the application.
What happens next?
- Within 2 to 3 business days after submitting your Business Account reservation, you will receive an Invitation to Apply email with a link to complete an online application and upload your trust documents along with your identification. Once the application is submitted, one of our dedicated business bankers will reach out to you. They will guide you through the remaining steps, provide any additional information or documentation that may be required, and assist you in finalizing the setup of your Trust Checking Account.
- NOTE: Within the application, there is currently no option to apply for a trust. Please use the option to apply for an LLC.