Escrow Manager brings you the convenience of having just one account at the bank with the compliance of having each escrow deposit held separately. All of this is delivered through a clear, intuitive online interface.

No matter how many escrow deposits you have to keep track of, you will need only one “master account” at the bank. One checkbook, one set of deposit tickets, one statement. 

Even though you have only one master account at the bank, Escrow Manager allows for unlimited escrow deposit accounts, or “sub-accounts.” Each of these sub-accounts is opened by you, without all of the normal bank paperwork. By entering a few pieces of the fund owner’s information, you can create a sub-account for them and move their deposit from the master account to the sub-account.

The best part of our Escrow Manager service is that it allows you to open and close sub-accounts, allocate deposits, and transfer funds without ever having to leave your workplace. Within days of opening the master account at the bank, you will be provided with a web address, user name, and password that will allow you to begin defining your sub accounts and allocating funds to them from your computer.

Escrow Manager Quick Facts:

• One master account with unlimited sub-accounts
• Total online sub-account management through Web Express
• Full FDIC insurance for each sub-account
• Complete 1099 tax reporting performed by the bank for each sub-account
• A monthly statement provides sub-account level detail
• Improved internal control and regulatory compliance
• Sub-accounts can earn a competitive rate of interest

For additional information, please call our Treasury Solutions Group at (717) 735-4391.