Trust Account

Earn a good return on your savings with a Rabobank Online Savings Trust Account.

Terms, conditions and eligibility criteria apply.

Start application
trusts banner

The Benefits

  • No account or annual fees
  • Manage your funds from our mobile app or internet banking
  • Your funds are covered under the Depositor Compensation Scheme. The scheme covers up to $100,000 of your money in the unlikely event of a failure.

The Details

Open a Rabobank Online Savings Trust Account and start earning a competitive interest rate on your funds. Take note of the eligibility criteria below then follow our easy online application to open an account.

Eligibility criteria

The Trust must have no entities in the structure, such as corporate trustees. The settlor(s), appointer(s) and beneficiaries must all be natural persons and tax residents of and reside in New Zealand

The Trust must be created in New Zealand

The Trust must hold a bank account with another New Zealand registered bank

The Trust must have a maximum of three (3) trustees who are all natural persons, are New Zealand tax residents and reside in New Zealand

Ready to open a Trust account?

To open an account, a trustee of the Trust will require the following to get started:

  • Their New Zealand driver licence or passport with a minimum of 30 days before expiry from the date of application;
  • The Trust’s IRD number and registered New Zealand Business Number (if any);
  • A mobile phone to receive a verification code via text message; and
  • A smart device (mobile phone or tablet) to download the Rabobank Online Savings App to register for multi-factor authentication (Secure Code).
Start application

Savings products to suit your goals

RaboSaver

RaboSaver makes it easy to access your money and the flexibility to move your funds around right when you need it.

Interest Rate

% 

 

p.a.^

  • Unlimited deposits & withdrawals on call when you need to
  • Funds are on-call
  • No account fees or minimum balance
Start application

NoticeSaver

A NoticeSaver account requires you to provide 60 days' notice each time you wish to make a withdrawal.

Interest Rate

%

 

p.a.^

  • Add to your balance at any time                
  • Great for tucking money away
  • No account fees or minimum balance
Start application

Term Deposit

Lock in a fixed rate for a fixed return and know exactly where you stand when your Term Deposit matures.

12 Month Interest Rate

%

 

p.a.*

  • Option for regular interest payments on terms 1 year and over
  • Minimum Term Deposit amount of only $1,000
  • Fixed interest rate and term
Start application

^Applies to balances up to $5,000,000. Rabobank Online Savings terms, conditions and eligibilty criteria apply. Interest rates are subject to change.

*Interest rates based on deposits of between $1,000 - $50,000. For all Trust Account Term Deposit rates, see here. Rabobank Online Savings terms, conditions and eligibilty criteria apply. Interest rates are subject to change.

Frequently asked questions

No, we are not onboarding new Charitable Trusts at this time.

For terms, conditions and eligibility criteria of Trusts that are accepted, please see here: Trust Accounts.

No. Corporate trustees are not permitted when applying for a Rabobank Online Savings Trust Account.

All trustees must be natural persons, that is, human beings who are not acting on behalf of a company or organisation.

Professional firms or corporate entities may support the Trust with administrative tasks, but they cannot hold any of the key Trust roles listed below:

·       Trustee;

·       Settlor;

·       Appointor;

·       Beneficiary.

Rabobank Online Savings is currently accepting Trusts as customers that meet certain eligibility criteria. To open an account with Rabobank Online Savings, the Trust must:

  • Be established in New Zealand;
  • Have a bank account in the name of the Trust with another New Zealand registered bank;
  • Have a maximum of three (3) trustees who are all natural persons. The trustees must be tax residents of New Zealand and reside in New Zealand; and
  • Have no other entities in the Trust structure. This means that the settlor(s), appointer(s) and beneficiaries must all be natural persons and tax residents of and reside in New Zealand.

A natural person is a human being, as opposed to a company, incorporated body, a trust, charity, or any other legally created entity.

Trust information:

  • Trust IRD number;
  • Trust tax residency;
  • Resident Withholding Tax (RWT) rate; and
  • Prescribed Investor Rate (PIR), if applicable.

Trust documentation:

  • A copy of the Trust Deed; and
  • All amendments or variations to the Trust Deed.

Trustee information:

The applying trustee must have the following information available when applying for a Trust Account:

  • Their New Zealand driver licence or passport with a minimum of 30 days before expiry from the date of application;
  • The Trust’s IRD number and registered New Zealand Business Number (if any);
  • A mobile phone to receive a verification code via text message; and
  • A smart device (mobile phone or tablet) to download the Rabobank Online Savings App to register for multi-factor authentication (Secure Code).

As part of the application process, all trustees of the Trust will be contacted and requested to provide a copy of their New Zealand driver licence or passport (with a minimum of 30 days before expiry from the date of application) together with their consent to open the new Trust Account.

In some cases, additional information may be required to verify the trust’s source of wealth and/or source of funds.

To open a Rabobank Online Savings Trust Account, you must:

  • Be a trustee of the Trust;

  • Reside in New Zealand;

  • Be a New Zealand tax resident; and

  • Have authority to open a Trust Account from all other trustees of the Trust.