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Trust company

Trust company Definition

A trust company has been referred to as a near-bank; while technically it differs from a bank in mandate and services offered, it also provides banking services such as chequing accounts, savings and loans, investments and credit cards.


A trust company may be owned by or be part of a chartered bank or building society. The "trust" name refers to the ability of the institution's trust department to act as a trustee - someone who administers financial assets on behalf of another.








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