1. Knowledge Base
  2. Accounts
  3. Business Banking & Trust Accounts

Will Old Glory Bank offer trust accounts?

Trust accounts will be rolled out alongside our business banking platform, which will be launched in July of 2023.

At our initial launch, we are focused on consumer banking products including our personal Freedom Spending and Freedom Savings accounts. We have a team already hard at work preparing for the launch of our business banking solutions, which will include options for trust accounts.

A trust is treated like a "business" in banking, including the "know your customer" regulations. Our consumer banking software is not able to handle the additional customer information of the trustee and beneficiary, plus the protective controls, that will be necessary create a trust account. We will be building the additional system architecture to accommodate trust accounts later this year.