"TTEE" is an abbreviation for the word "trustee." In the case of the certificate of deposit, the trustee is most likely someone charged with taking care of the money until the person it is intended for comes of an age to receive it.
Abbreviation
"TTEE" is an abbreviation for the word "trustee."
Definition
A trustee is a person who holds and manages assets for another person.
Trustees and Certificates of Deposit
Certificates of deposit are often given as gifts from a grandparent to a grandchild, with the intention of having the grandchild receive the money, with interest, when she reaches a certain age. The CD might be given to a grandchild with an adult named as trustee until the child is of age to receive the money.
