What's the difference between a trust bank and a regular bank?
A regular bank focuses primarily on standard retail and commercial banking activities, including checking accounts, savings deposits, personal loans, mortgages, and everyday credit card services for the general public. A trust bank specializes heavily in fiduciary services, asset management, estate planning, custody of securities, and administration of trusts, estates, and retirement accounts for affluent individuals or corporate clients. While some major financial institutions maintain divisions that handle both standard banking and trust services, dedicated trust banks concentrate heavily on wealth preservation and fiduciary asset stewardship rather than high-volume consumer retail deposits.
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