trust account
noun [C] FINANCEDefinition
› a bank account that is used by a person or organization to manage money for another person or group of people: The money was deposited in a trust account for her until she reached the age of 18.
› an account that is used to keep money for a particular purpose: A trust account has been established by the solicitors for donations to the charity.
› an account set up by two people or organizations in which money or property is kept by a third person or organization until a particular condition is satisfied: All pre-payments by travellers are placed in a trust account and not released until completion of the tour.
→ See also escrow(Definition of trust account noun from the Cambridge Business English Dictionary
© Cambridge University Press)
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