Approved ADIs for Trust Accounts

The term ‘ADI’ is defined in Schedule 2 of the Legal Profession Act 2007 (the Act) as an authorised deposit-taking institution within the meaning of the Banking Act 1959 (Cth). Pursuant to s237 of the Act, a law practice can only keep a trust account with an ADI approved by the Chief Executive of the Department of Justice and Attorney-General pursuant to s280 of the Act.

The Chief Executive of the Department of Justice & Attorney-General has approved the following ADIs:

  • Australia and New Zealand Banking Group Limited (ANZ)
  • Bank of Queensland Limited (BOQ)
  • Bendigo and Adelaide Bank Limited
  • Commonwealth Bank of Australia (CBA)
  • Macquarie Bank Limited
  • National Australia Bank Limited (NAB)
  • QPCU Limited T/as QBANK
  • St George Bank (a division of Westpac Banking Corporation)
  • Suncorp-Metway Limited (Suncorp Bank)
  • Warwick Credit Union Ltd
  • Westpac Banking Corporation