Final answer:
A trust account is a bank account where you can collect more than one payment before making a deposit, commonly used by businesses or organizations to hold funds securely on behalf of their clients or beneficiaries.
Step-by-step explanation:
A bank account where you can collect more than one payment before making a deposit is called a trust account. Trust accounts are commonly used by businesses or organizations that need to hold funds securely on behalf of their clients or beneficiaries. An example of a trust account is an escrow account, which is often used in real estate transactions to hold the buyer's earnest money deposit until the sale is finalized.