Thecustodial account definitionin banking is when an adult opens and manages a savings account at afinancial institutionin the name of a minor dependent person. The financial institution can be a bank, credit union, investment firm, orbrokerage account. A minor dependent is a person who is unde...
For example, atMerrill Edge—the digital broker platform that used to be Merrill Lynch—a UGMA/UTMA custodial account can be set up online with funds directly transferred from a checking or savings account at Bank of America, Merrill's parent company. There are no annual account fees or minim...
custodial account meaning, definition, what is custodial account: a bank account that parents open for a c...: Learn more.
Consider that the interest-bearing meaning in banking is that a business or consumer canearn money for keeping money depositedin the bank. In cases where the interest earned is at a higher rate, the interest can add a good portion to the account balance over the course of a few years. Th...
Crypto wallets adhering to this hard-line approach are called “non-custodial,” meaning no outside parties have access to keys. Except, not so fast. The situation isn’t so simple. A number of high-profile “non-custodial” wallet hacks – including the Slope wallet hack that compromised ...
Messages between users are end‐to‐end encrypted, meaning that even in the event of a compromised database, no sensitive information such as bank account information could be extracted from historic messages. The developers and researchers behind the Off‐the‐Record Messaging (OTR) instant messagin...
Messages between users are end‐to‐end encrypted, meaning that even in the event of a compromised database, no sensitive information such as bank account information could be extracted from historic messages. The developers and researchers behind the Off‐the‐Record Messaging (OTR) instant messagin...
Custodial Services Agreementhas the meaning ascribed theretoin the Prospectus; “distribution” has the meaning given to it inthe Securities Act(Ontario); “Environmental Laws” has the meaning given to it in Section 7.50; Sample 1 Custodial Services Agreement. Theagreement betweenParty B andBank of...
When a user created a LocalCryptos account, a cryptographic key was generated on the device of the user, known as a "master key". This "master key" would later be used to derive other keys — such as a key for encrypting other private keys used to store cryptocurrency, or a key for...
“Business Day” means any day on which the Federal Reserve Bank of New York is open for business. “Cash” has the meaning set forth in Section 2.A.ii. “Cash Credit Request” has the meaning set forth in Section 3.D. “Cash Custody Account” has the meaning set forth in Secti...