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Professional Trust Account

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A holding account with no transaction or account keeping fees

Hume’s Professional Trust Account is for businesses such as Real Estate Agents, Solicitors and other professionals that are required by law to hold funds on behalf of their customers in a trust.

When the account is a real estate trust account, calculation and payment of interest is in accordance with relevant legislation for those account types.

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Features

Enjoy the following features:

No account keeping fees
No transaction fees
Free internet, mobile and phone banking*
Complies with regulatory body requirements

*Data charges may be applied by your phone provider depending on your mobile plan.

Rates

Account Balance $ Interest Rate % p.a.
$1 - $49,999 1.75%
$50,000 - $99,999 2.00%
$100,000 + 2.50%

Rates effective from 1 January 2013 and subject to change without notice. Unapproved debit balances incur interest at 15.90% p.a. calculated daily on full closing balance and debited on the last calendar day of each month.

Interest is calculated daily and paid quarterly.

Fees

Fees

Charges

Deposits at Hume branches

Free

Internal transfers

Free

Electronic Banking - iBank, mBank & Hume Connect (excluding cheques)

Free

Direct Debit, Direct Credit, BPay, Internal funds transfer, External transfers via electronic banking

Free

Deposit books & Cheque books.

Free

Eligible for fee exemption

No