Member Services

Yes, Max is compatible with trust accounts, but only a subset of the online banks currently support trusts.

UFB Direct, FieldPoint Bank, and Ally Bank permit clients to designate accounts as held directly in the name of a revocable or living trust. Please contact UFB Direct at 1-877-472-9200 and at Fieldpoint Private at 1-203-413-9300 to designate your account as a Trust.

UFB Direct, FieldPoint Bank, Barclays, Ally Bank, Customers Bank, and Max Checking also permit you to specify a revocable or living trust as a Payable On Death (POD) beneficiary by contacting the bank or by specifying the trust as a beneficiary on the bank’s website. 

Online savings banks generally do not support more complex trusts, such as irrevocable trusts, as they consider them to be commercial accounts. Max is able to serve complex trusts and commercial accounts through our partnership with The American Deposit Management Co.

More information regarding support for trust accounts is available via the online bank websites or by contacting their customer support staff. Refer to our Guide to Support for Trust Accounts for additional details. FDIC coverage of trust accounts is detailed on the FDIC's website. You can also click here to use the FDIC's Electronic Deposit Insurance Estimator (EDIE) calculator.

We suggest that you consult your attorney or qualified estate planning professional before establishing a trust account or designating an account as a POD account. Please contact Max Member Services if you have further questions regarding support for trust accounts.