trust accountnoun [ C ]
ukusFINANCEa 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