custodial account Meaning in the Cambridge English Dictionary
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Meaning of “custodial account” in the English Dictionary

"custodial account" in Business English

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custodial accountnoun [C]

uk   us  
US BANKING a ​bank or ​investmentaccount that is set up and ​managed for someone else, for ​example, by a child's ​parents: The ​lawpermits you to use the ​money in a custodial ​account as ​long as it's on your child's behalf.
(Definition of custodial account from the Cambridge Business English Dictionary © Cambridge University Press)
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