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Question 14.7: How do trust services generate fee income and often deposits...

How do trust services generate fee income and often deposits as well for banks and other financial institutions offering this service?

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Trust departments manage the assets of their customers. These assets include deposits and in some cases these deposits can be substantial. Trusts can be formed for individuals as well as businesses and charitable groups and they can have large deposits associated with them. The financial institution charges their customers a fee for providing these services.

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