---
title: "Statutory Trust account — Westpac"
description: "Regulated Trust Accounts from Westpac. Rates, fees, features and eligibility as published under Australia's Consumer Data Right."
canonical: https://www.cdrcompare.au/brands/westpac/products/StatutoryTrustAccount
source: "CDR Compare"
language: en-AU
last_updated: 2026-04-01T00:02:02Z
---

# Statutory Trust account — Westpac

> Regulated Trust Accounts from Westpac. Rates, fees, features and eligibility as published by the provider under Australia's Consumer Data Right, compared on CDR Compare.

**Regulated Trust Accounts**

Our Statutory Trust Accounts help you comply with statutory requirements.

## Fees

| Fee | Type | Amount |
| --- | --- | --- |
| Account Keeping Fee — Charged monthly | Ongoing | $0.00 |
| Staff-Assisted Withdrawal | Withdrawal | $3.00 |
| Staff-Assisted Deposit | Deposit | $3.00 |
| Self-Service (Electronic) Withdrawals | Withdrawal | $0.00 |
| Self-Service (Electronic) Deposits | Deposit | $0.00 |
| Periodical Payments | Transaction | $0.00 |
| Group Telephone Banking | Transaction | $0.00 |
| Online Banking — Account enquiries are always free when you use Online Banking. | Transaction | $0.00 |
| Cheques Collected / Deposited | Event | $3.00 |
| Cheques Written | Event | $3.00 |
| Overdrawn Fee — $15.00 per occurrence | Event | $15.00 |

## Features

- **If your business is a solicitor?s office, real estate agency, collection agent (QLD), conveyancer or settlement agent (WA), you may be required by law to deposit funds held on behalf of your clients, into a Statutory Trust Account. This is a special type of account designed to comply with statutory requirements, that may require you to provide certain details or documents at account opening.**
- **Helps you comply with statutory requirements when holding clients? funds in trust**
- **Statutory Trust for Real Estate Agents account is suitable for real estate agents (in all states) and collection agents (in Queensland)**
- **Statutory Trust for Solicitors account is suitable for solicitors**
- **Statutory Trust for Conveyancers and Settlement Agents account is suitable for conveyancers (all states) and settlement agents (in Western Australia)**
- **Fraud protection** (The product includes fraud protection features.)
- **Guarantor supported** (Subject to Terms and conditions, guarantor is available for eligible customers)
- **Digital banking** (With PayTo, you can see, review and authorise all new PayTo payments for things such as recurring bills, memberships and subscriptions before the money leaves your account.)

## Eligibility

- **Minimum age** — 18 years (Applicant plus all signatories)
- **Operating in Australia with an Australian address**
- **Must be a member of a professional association and required by law to deposit funds held on behalf of clients in statutory trust accounts**
- **Needs an eligible business transaction account from which fees and charges can be debited.**

## More information from Westpac

- [Overview](https://www.westpac.com.au/business-banking/bank-accounts/statutory-trust/)
- [Terms & conditions](https://www.westpac.com.au/content/dam/public/wbc/documents/pdf/bb/deposit-accts-bus-customers-tandc.pdf)
- [Eligibility](https://www.westpac.com.au/business-banking/bank-accounts/statutory-trust/)
- [Fees & pricing](https://www.westpac.com.au/content/dam/public/wbc/documents/pdf/bb/deposit-accts-bus-customers-tandc.pdf)

## Data provenance

- Published by Westpac under the Consumer Data Right
- Product ID: `StatutoryTrustAccount`
- Last updated by the provider: 1 April 2026
- Source payload (JSON): https://www.cdrcompare.au/api/raw/westpac/StatutoryTrustAccount
- Provider page: https://www.cdrcompare.au/brands/westpac
- CDR register entry: https://www.cdr.gov.au/find-a-provider?provider=000002

---

Source: [CDR Compare](https://www.cdrcompare.au/brands/westpac/products/StatutoryTrustAccount) — product data published by Australian data holders under the Consumer Data Right. Not financial advice; no rankings, recommendations or affiliate relationships. Always confirm details with the provider.

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