Escrow has never been easier. Manage all of your escrow accounts in one place.
As a New Jersey/New York state-approved depository, Kearny Bank has a variety of account structures suitable for managing your clients’ escrow funds.
Keep funds separate from other business accounts while still benefiting from a comprehensive monthly statement. Link master accounts to multiple sub-accounts with the ability to make check disbursements and prepare separate 1099 INT Tax forms for each sub-account holder.
All of our trust accounts include:
- Linked master escrow account and interest-bearing savings sub-accounts
- Interest is credited at our current statement savings rate
- 1099 INT tax reporting
- Remote Deposit Capture
- Comprehensive detailed monthly statement
Making them perfect for:
- Attorney Escrow
- IOLTA/IOLA Accounts
- Realtors/Title Companies Escrow
- Pre-paid Funerals
- Nursing Homes/Assisted Living
- Rent Security Accounts
Contact a Kearny Bank client service representative today to discuss how you can take advantage of these services.