Specialty Business Accounts IOLTA and Escrow

Specialty Business Accounts IOLTA and Escrow | Santander Bank - Santander

Specialty Accounts

Complex businesses need tailored solutions: Specialty accounts offer several ways to efficiently manage your cash and accounts.

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Our available specialty accounts

Interest on Lawyers' Trust Accounts (IOLTA)

IOLTA is a proven solution for attorneys who manage short-term funds   for their customers. Our accounts meet state IOLTA requirements for   receipt of interest on attorney accounts.

Use your monthly statements for a record of deposits and disbursements, and view interest earned that was remitted to the state.
IOLTA accounts are available in every state within our footprint: NY, PA, NJ, RI, CT, DE, MA, NH, FL, and Washington, D.C.

Escrow accounts

Many businesses rely on escrow accounts to organize and manage segregated client assets.

Hold funds for a single client or use an Escrow Master-Sub Relationship for multiple client accounts.
Use your consolidated monthly statements to keep track of client deposits and earned interest.
Reduce your administrative burdens with 1099 IRS tax forms automatically issued to clients at year-end.
Securely manage escrow sub accounts using our self-service portal to open, close, and make payments to the subaccounts online.

All the ways we help you bank better

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The flexibility you need to do business while you're busy

We're here to support your unique small business

Forthcoming with our customers, like all banks should be

Deposit with Mobile Check Deposit
Open the Business Mobile Banking App, sign the back of your check, take a picture of it, and your deposit is a go.

Customization and agility
Helping you achieve your business goals and needs by diving deeper into your operations and cash flow, bringing ideas and
alternatives to the table.

Fees explained up front
We're honest about the cost of doing business, the same way you are with your customers. no surprises and no sneaky fine print.

Access your digital banking tools
Make deposits or ACH payments, transfer funds, check balances, set different access levels for employees, and more.

Geared toward sustainable success
While we're committed to meeting your needs
today, we also have one eye on the future. We're
here to build on your foundation and fuel growth.

Open communication
Alerts, secure messages, and a dedicated team of small business banking experts to guarantee satisfaction as best we can.

Customized alerts
Enable alerts on account deposit(s), debit(s), low balance, incoming and outgoing wire payments, and more. Refine alert settings to your preferences.

Partnership and guidance
Let us help you navigate the surprising challenges and opportunities that growth brings, whether it's big picture or day-to-day.