We support five types of accounts:
- Individual Account
- Individual Revocable Trust Account: an account for a revocable living trust with one grantor who is also the sole trustee and beneficiary of the trust
- Joint Account1
- Joint Revocable Trust Account: an account for a revocable living trust with two grantors who are the only two trustees and beneficiaries of the trust
- Institutional Account: an account opened for a corporation, LLC, partnership or charitable organizations
Please note that you may only establish either an individual account or an individual revocable trust account (but not both). You may also establish either a joint account or a joint revocable trust account (but not both).
You can open as many institutional accounts for different organizations as you would like (although you can currently only create one institutional account per organization).
1 By default, joint accounts are held by the joint account owners as Joint Tenants with Rights of Survivorship, which means that if one account owner dies, that person’s interest in the account passes to the surviving owner. You can also designate a Joint Account as Tenants by the Entirety by emailing email@example.com; please see this page for more details.