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en.wikipedia.org/wiki/Custodian_bank

A custodian bank, or simply custodian, is a specialized financial institution responsible for safeguarding a firm's or individual's financial assets and is not engaged in "traditional" commercial or consumer/retail banking such as mortgage or personal lending, branch banking, personal accounts, Automated Teller Machines (ATMs) and so forth. The ...

en.wikipedia.org/wiki/Custodial_Account

A custodial account is a financial account (such as a bank account, a trust fund or a brokerage account) set up for the benefit of a beneficiary, and administered by a responsible person, known as a legal guardian or custodian, who has a fiduciary obligation to the beneficiary.

www.marketwatch.com/story/5-things-to-know-about-custodial...

Parents set up custodial accounts for children for various reasons, some legitimate and some not. Aunt Gertrude gives $10,000 to little Johnny: set up a custodial account to hold the money ...

www.investopedia.com/terms/c/custodialaccount.asp

A custodial account is a savings account set up and administered by an adult for a minor. In a broad sense, a custodial account can mean any account maintained by a fiduciarily responsible party ...

www.investopedia.com/terms/c/custodian.asp

If an account beneficiary is a minor, a custodian is often required due to the rules and regulations limiting the activities of minors, resulting in the creation of a custodial account. The ...

www.bankofamerica.com/.../utma-savings-account-for-children

The offering of Custodial Savings for Youth (UTMA/UGMA) Accounts should not be construed in any way as the providing of legal or tax advice by Bank of America. ← back to content For Rewards Savings accounts opened on or after August 13, 2018, we will waive the monthly maintenance fee for six months from account opening.

www.wellsfargo.com/investing/education/custodial

Custodial accounts let parents, grandparents, and others transfer and invest money for a minor. The accounts offer potential tax benefits and the flexibility to use funds for educational or non-educational expenses. What is a custodial account?

www.bsnb.com/trust-services/custodial-accounts.php

What is a custodial account? Custodial accounts hold all of the assets that you designate, including cash, CDs, stocks and bonds. BSNB provides a consolidated monthly statement and handles the record keeping so that you don’t have to worry about the administrative aspects of your accounts.

www.quora.com/What-exactly-does-a-custodian-bank-do

An interesting way of comparing regular banks and custody banks is thinking about lending of securities vs. cash. Your bank deposits, like your paycheck, can be loaned out, and in fact, in a fractional reserve banking system like the US Federal R...

www.biblemoneymatters.com/what-is-a-custodial-savings...

Open A Custodial Savings Account With CIT Bank. Pros Of Custodial Savings Accounts. There are a lot of reasons why people open and contribute to custodial savings accounts. First, a lot of people like the fact that you can make unlimited contributions to a custodial account, unlike some other account types like a 529 college savings plan.