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Meaning & use

trust company

noun·Advancedbusinessfinance

Last updated

UK/ˈtrʌst ˌkʌmpəni/
US/ˈtrʌst ˌkʌmpəni/

Meaning

  1. nouncountablebusinessfinance

    A financial institution that manages money or property held in trust for people or organizations.

    Grammar: Countable: you can say 'a trust company' or 'several trust companies'.

    Patterns

    • a trust company
    • work for a trust company
    • set up a trust company

    She works for a trust company that manages pensions for small businesses.

    The family hired a trust company to look after the children's inheritance.

    A trust company can act as trustee when no individual is available.

Word forms

pluraltrust companies

Common combinations

a trust company
He opened an account at a trust company.
work for a trust company
My aunt works for a trust company in the city.
set up a trust company
Starting a trust company requires a license.
trust company services
The bank offers trust company services to wealthy clients.

Synonyms and how they differ

trustee
A trustee is a person or organization that holds and manages assets for someone else; a trust company is a specific type of business that does this.
bank
A bank takes deposits and makes loans; a trust company focuses on managing trusts and estates, though some banks also offer trust services.

Word family

trust noun
A legal arrangement in which one person manages property for another.
trustee noun
A person or organization that manages a trust.

Commonly confused: trust company or trust fund?

trust company vs trust fund

A trust fund is the money or property itself; a trust company is the business that manages it.

Practice

What is a trust company?

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