Master Escrow Checking



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Master Escrow Services

 

By opening a Master Escrow Account you will no longer waste valuable time managing separate escrow accounts. This account will save time with its streamlined opening and closing procedures and will also reduce paperwork by no longer requiring letters of request. Make deposits with a special deposit ticket with the client’s name, address and tax id number. The Bank will manage your escrow and do the escrow accounting for you. There are no fees or charges for this service.

  • Easy to establish Primary accounts, and Sub Accounts
  • Transfers may be requested by phone or email
  • Separate accounting records will be maintained for each sub account
  • 1099’s will be prepared for you and mailed directly to sub-account holders by bank
  • FDIC insured for $250,000 on each Sub-Account per Depositor
  • Audit Trail for accurate reporting
  • Provide monthly statements

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