Bank account
Retention Trust Account
Retention Trust Account is a regulated trust account from Westpac for Australia. The product is currently marked active.
An official product page is available in the source record. Rates, limits, fees and other conditions can change over time, so current terms should be checked against the official product information.
An official product page is available in the source record. Rates, limits, fees and other conditions can change over time, so current terms should be checked against the official product information.
Product overview
A Retention Trust Account must be opened when the construction contract includes a requirement to hold cash retention amounts. It?s used to hold cash retention amounts for eligible contracts until payments to contractors are made. You can have one or more Retention Trust Accounts for your eligible contracts.
Product details
- Classification
- Bank Account · Regulated trust account
- Country
- Australia
- Status
- Active
- Updated
- 29 Jul 2026