{"id":9142,"date":"2023-12-03T06:40:25","date_gmt":"2023-12-03T11:40:25","guid":{"rendered":"https:\/\/faisalkhan.com\/?page_id=9142"},"modified":"2023-12-03T06:40:28","modified_gmt":"2023-12-03T11:40:28","slug":"omnibus-account","status":"publish","type":"page","link":"https:\/\/faisalkhan.com\/learn\/payments-wiki\/omnibus-account\/","title":{"rendered":"Omnibus Account"},"content":{"rendered":"\n
An Omnibus account in the banking and payments world is a type of account that is managed by a financial institution on behalf of multiple clients. The term “Omnibus” combines “omni,” meaning “all,” and “bus,” short for “business,” indicating that this account serves multiple clients or purposes.<\/p>\n\n\n\n
Here’s how it works in simple terms:<\/p>\n\n\n\n
In summary, an Omnibus account is a specialized financial tool used to manage multiple clients’ funds or investments collectively, with the institution maintaining detailed individual records. It’s not a regular account you’d open for personal use; it’s more suited for investment and institutional financial management.<\/p>\n","protected":false},"excerpt":{"rendered":"
An Omnibus account in the banking and payments world is a type of account that is managed by a financial institution on behalf of multiple clients. The term “Omnibus” combines “omni,” meaning “all,” and “bus,” short for “business,” indicating that this account serves multiple clients or purposes. Here’s how it works in simple terms: In […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":3611,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_uag_custom_page_level_css":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"blocksy_meta":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","gb-block-post-grid-landscape":"","gb-block-post-grid-square":"","yarpp-thumbnail":""},"post_excerpt_stackable":"
An Omnibus account in the banking and payments world is a type of account that is managed by a financial institution on behalf of multiple clients. The term “Omnibus” combines “omni,” meaning “all,” and “bus,” short for “business,” indicating that this account serves multiple clients or purposes. Here’s how it works in simple terms: Definition: An Omnibus account is a collective account managed by a financial institution (like a bank or brokerage) that holds multiple individual or group accounts. The clients’ assets or funds are pooled together, but the institution keeps detailed records of each client’s individual share. Functioning: It’s…<\/p>\n","category_list":"","author_info":{"name":"Faisal Khan","url":"https:\/\/faisalkhan.com\/author\/nomismad\/"},"comments_num":"0 comments","featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","gb-block-post-grid-landscape":"","gb-block-post-grid-square":"","yarpp-thumbnail":""},"post_excerpt_stackable_v2":"
An Omnibus account in the banking and payments world is a type of account that is managed by a financial institution on behalf of multiple clients. The term “Omnibus” combines “omni,” meaning “all,” and “bus,” short for “business,” indicating that this account serves multiple clients or purposes. Here’s how it works in simple terms: Definition: An Omnibus account is a collective account managed by a financial institution (like a bank or brokerage) that holds multiple individual or group accounts. The clients’ assets or funds are pooled together, but the institution keeps detailed records of each client’s individual share. Functioning: It’s…<\/p>\n","category_list_v2":"","author_info_v2":{"name":"Faisal Khan","url":"https:\/\/faisalkhan.com\/author\/nomismad\/"},"comments_num_v2":"0 comments","yoast_head":"\n