Library / English Dictionary

    SAVINGS BANK TRUST

    Pronunciation (US): Play  (GB): Play

     I. (noun) 

    Sense 1

    Meaning:

    A savings account deposited by someone who makes themselves the trustee for a beneficiary and who controls it during their lifetime; afterward the balance is payable to the previously named beneficiaryplay

    Synonyms:

    savings account trust; savings bank trust; Totten trust; trust account; trustee account

    Classified under:

    Nouns denoting possession and transfer of possession

    Hypernyms ("savings bank trust" is a kind of...):

    trust (something (as property) held by one party (the trustee) for the benefit of another (the beneficiary))

    Credits


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