Banking
Safe Custody / Custodian Fee
Charging an annual fee for safekeeping and administering a customer's securities portfolio.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Customer Account / Receivable | Asset/Liability (-) | - | 1,200.00 |
| Custody & Safekeeping Fee Income | Revenue (+) | - | 1,200.00 |
💡 Accountant's Note
Custody fees are recognized over the period the service is provided. They are typically charged quarterly and are a key revenue stream for banks with private wealth or institutional custody businesses.
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