Solicitors Trust Account
An account for Solicitors for holding client payments relating to property conveyancing, estate settlements, investments and other trust monies.
- Base rate
- 3.95%
Interest Rates
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable Penalty Interest will be charged on overdrawn accounts. | 20% | — | — |
Deposit Rates
| Type | Rate | Applies To | Interest Paid |
|---|---|---|---|
| Variable Interest is paid to the Law Society of New South Wales monthly after the close of business at the end of the month as required by the relevant regulating body. | 3.95% | — | monthly |
Fees
| Fee | Type | Amount |
|---|---|---|
| CHEQUE_DISHONOUR Capped at $0.00 · A dishonoured cheque is a cheque that is not paid by the financial institution on which it is drawn. A dishonour fee will apply each time the cheque is presented for payment and dishonoured. | Event | $9.00 |
| DIRECT_ENTRY_DISHONOUR Capped at $0.00 · Payable when a direct entry (inward and outward) is dishonoured. | Event | $9.00 |
| DOCUMENT_FEE Capped at $0.00 · $60.00 per hour (subject to minimum $10.00 per copy). Payable if you request copies of documents such as withdrawal forms or statements, or you ask us to verify a transaction performed on your Account e.g. evidence of a Visa Debit Card purchase. | Event | $60.00 |
| FINANCIAL_INSTITUTION_CHEQUE Capped at $0.00 · Payable when you request us to issue a financial institution cheque. | Event | $2.50 |
| MISCELLANEOUS_SERVICE_FEE Capped at $0.00 · $60.00 per hour. Payable if you request information not covered by the Document Fee. | Event | $60.00 |
| OVERSEAS_TELEGRAPHIC_TRANSFER_(OUTWARD)_-_AUSTRALIAN_CURRENCY Capped at $0.00 · Payable if we assist you send funds electronically overseas in Australian dollars. |
Features
- Unlimited transactions
- Digital banking
- PayID
- Real-time payments (NPP)
- Notifications — Mutual Alerts - Balance, low and high balance, deposit, withdrawal
- Bill payment (BPAY) — BPAY
- Pay bills using BPAY
Eligibility
- Business customersLaw practices required to hold a statutory trust account as required by the Legal Profession Act (NSW) 1987 and the Legal Profession Regulation 2002.
- Residency status — Australian citizen or permanent resident, or as otherwise approved
- A Business Cheque Account must be opened and maintained for fees and charges associated with this account
Constraints
- Minimum balance — $0.00
- Opening balance — $0.00
More Information
Published by Maitland Mutual Limited under the Consumer Data Right · Last updated 30 June 2026 · Product ID Solicitors_Trust_Account · View on CDR.gov.au · View Source Data (JSON)