What is a Custodian Bank and are my deposits insured in the Custodian Bank?

A Custodian Bank assists with the transfer of your funds, and the funds of other customers who have HMBradley Deposit Accounts with Hatch Bank, to the Network Bank.  All or a portion of the funds in your HMBradley Deposit Account with Hatch Bank are temporarily held in a Custodian Bank until they can be transferred to a Network Bank. The deposit accounts at the bank that Hatch Bank uses as a Custodian Bank, which may include your funds from your HMBradley Deposit Account with Hatch Bank, are insured by the FDIC or NCUA.

Was this article helpful?
0 out of 0 found this helpful



Article is closed for comments.