Commercial Bank and Checking Accounts
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What is a bank account held by one person as custodian for another?

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Wiki User
April 20, 2007 12:26PM

It usually means that an adult has opened an account for a child

and has the ability to add/subtract or "control" the account for

the child. Can also be for adults; ex-when a large amount of money

is involved and custodian wants to limit beneficiary's access.

Basically, someone besides the account holder who has access to and

can change said account.

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