A trustee account is a type of bank account that is usually used by legal entities or organizations to manage and safeguard assets on behalf of beneficiaries. Depending on the context, there are several synonyms that can be used to describe a trustee account. One of these is a fiduciary account, which is a legal or ethical relationship of trust between two parties. Another synonym is a trust account, which is used to hold funds for a specific purpose or event. Additionally, a custodial account can also be used interchangeably with trustee account, as both are used to hold assets on behalf of others. Finally, a special account or escrow account can also describe the same type of account that trustees would use for managing and protecting assets.