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OneSource Virtual Trust Bank

Effective July 1, 2026, OneSource Virtual (OSV) added a dedicated, federally regulated trust-bank structure for the customer funds it holds. OneSource Virtual Trust Bank, N.A. (OSVTB) is a separate limited-purpose national trust bank regulated by the Office of the Comptroller of the Currency (OCC). For customers, that formal segregation of customer and OSV funds and the federal oversight of OSVTB’s operations.

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What is a limited-purpose trust bank?

A limited-purpose trust charter is a distinct category of federal bank charter reserved for institutions that administer funds in a fiduciary capacity, rather than operating as commercial or retail banks.

Because OSVTB falls under this category, it’s supervised directly by the OCC, the same federal regulator that oversees national banks across the country. OSVTB doesn’t accept deposits, extend loans, or offer accounts of any type to the public. Its charter exists for one focused purpose: to hold and administer customer funds through a trust structure built specifically for that work.

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Why did OSV charter OSVTB?

OSV’s treasury volume now surpasses $250 billion annually. As that volume has grown, so have regulatory expectations for companies managing funds at this scale. Chartering OSVTB was a natural next step because it brings this fiduciary function under OSV’s own federally regulated trust-bank structure.

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What does this mean for customers?

It doesn’t change OSV’s services, the customer relationship, or how customers work with OSV day-to-day. The difference lies in the behind-the-scenes structure: the customer funds OSV holds are now supported by a trust framework, administered by a dedicated trust-bank created for exactly this purpose. For customers, the benefit is added certainty and peace of mind regarding administration of their payroll and other human capital management resources.