A demand deposit account maintained by a servicer into which principal and interest payments or escrow funds, as the case may be, are deposited. The types of custodial accounts are: Principal and Interest (P&I) Custodial Account, Escrow (T&I) Custodial Account, and Buydown Custodial Account.

a brokerage firm account that parents have created for a minor

an account invested in mutual funds

an account managed by a parent or guardian on behalf of a child

an account set up by one party, managed and overseen by another party, and whose assets are intended for the benefit of yet another party

a restricted account where the accountholder is notified in advance and agrees to the conditions of the custodian in accordance with the rules for operating an Health Saving Account

a service where the Bank, as custodian for the principal, not only safekeeps the property, but also takes care of the routine administrative tasks associated with it

Account controlled b y the custodian rather than the owner of the assets. Primarily used for retirement plans, minor children or by an employer for the benefit of an employee.

An account t allows a custodian to hold securities for the benefit of the owner. The custodian collects investment income for the owner, executes the owner's buy or sell orders, and keeps records of all transactions, among other duties.

A specific type of account offered by GMAC Bank and created on behalf of a minor. If you have established the account as a custodian for a minor beneficiary under our state version of the Uniform Gifts to Minors Act, your rights and duties are governed by the Act. Upon the death of the custodian, a successor custodian will be appointed in accordance with the donor's instructions or state law, as applicable. You will not be allowed to pledge the account as collateral for any loan to you. Deposits in the account will be held by us for the exclusive right and benefit of the minor. See custodian, beneficiary.

an account established for the safekeeping of plan assets. The Custodian has no discretion or responsibility for managing those assets.

An account established for the safekeeping of plan assets, but with no discretion or responsibility for managing those assets.

See UGMA/UTMA Account.

An account established for the benefit of a minor or other beneficiary. Although the account is in the name of the custodian, the account is the legal property of the minor and it becomes his or hers outright when reaching legal age, usually 18 in most states.

An account for the benefit of a minor with an adult as the custodian.

A savings or investment account owned by the student but controlled by an adult trustee ( custodian) until the student reaches legal age, 18 in most states. Funds in a custodial account must be used for the benefit of the student.

An account which is administered by one person or entity (the custodian) for the benefit of another person, usually at a bank, mutual fund or brokerage.

An account opened on the behalf of a minor by an adult who acts as custodian. The custodian is usually one of the child's parents--both parents cannot be custodian. This type of account is opened because minors cannot enter into contracts. Thus, they cannot make securities transactions for themselves. Any assets placed into a custodial account are irrevocable. Once the minor is of majority (usually 18, but some states are 21), they may do what they please with the assets. See also Uniform Gifts to Minors Act.

A custodial account is a securities account that is created for a minor by an adult, who is usually one of the child's parents. Minors cannot make securities transactions in the account without the approval of the custodian. One of the chief advantages of this type of account is that the asset earnings are subject to a tax rate that is lower than the parental rate up to a specified threshold amount of earnings.

Custodial accounts are financial accounts that are set up for a minor, but because that minor has not reached the legal age of maturity the account has a custodian who is responsible for administrering the account. The custodian is often a parent. A custodial account can be everything from a bank account to a trust fund.