Tuesday, June 15, 2021
Custodial Services involve the safe keeping of Shares, Treasury Bills and Bonds. It also involves making payments for the purchase of Shares, Treasury Bonds Maturities plus generation of client reports to enable clients to monitor their financial portfolios. FBC Custodial Services also offers Custodial Services for Asset managers’ portfolios that are Money Market deals, Treasury Bills and Bonds. Clients are provided with user friendly reports from time to time to see how their assets are growing.
How FBC Custodial Services work
In order for a client to enjoy FBC Custodial Services the prerequisite is the completion of account opening forms and satisfying all the minimum account opening requirements. Upon satisfying all the minimum account opening requirements a cash account for a client is opened to enable the prefunding of trades. Once the account has been funded, the client may place orders for the purchase of shares through a broker of their choice, such as FBC Securities and the client would benefit from a one stop shop experience. The purchased shares are kept in custody in electronic form at FBC Custodial Services.
Types of Custodial Services offered by FBC
The two offerings are as follows:
1) Safe Keeping - refers to services offered to organizations such as institutional customers, companies, corporations and/or financial institutions that might need more complex services.
2) Retail Custodial Services - refers to services offered to individual customers and taking care of their personal financial needs (as opposed to corporate customers).
Benefits of opening an account with FBC Custodial Services
- Safeguarding asset portfolios to protect investors.
- Enabling the responsible entity/trustee and trust manager to concentrate on managing the fund.
- The safe keeping of shares is done in a dematerialised form which makes them ready for trading and there is no possibility of loss. It is important to note that shares can only be traded in dematerialised form.
- Same day payment of sale proceeds to beneficiary account holder
- Individualised cash accounts which make it easy for reconciliations
How one can open an account with FBC Custodial Services
- Clients can send an email requesting for application forms from email@example.com or clients may approach FBC Custodial Services for completion of account opening forms and submission of account opening requirements. Alternatively, clients who trade through FBC Securities may provide their account opening documents.
FBC Custodial Services Contact Details
- Email: firstname.lastname@example.org
- Telephone: +263 242 704145-7
- Address: 2nd Floor, FBC Insurance, 105 Jason Moyo Avenue, Cnr 4th Street & Jason Moyo Ave, Harare
Choosing FBC Custodial Services has the unique advantage in that under FBC Holdings there is a broker (FBC Securities) and a Custodian (FBC Custodial Services) leading to you enjoying a one stop shop experience.