Attorneys participating in the state bar association endorsed programs can choose the IOLTA account.
Interest earned on average collected balances is automatically remitted to the respective state organization in which the account was established. The account is intended for monies held in trust by an attorney for the benefit of others. It is not intended to serve as a practice’s office or operating account.
Key Account Features:
- No Monthly Account Maintenance Fee
- No minimum balance requirement
- Free online banking
- Free eStatement
- Free telephone banking
- FDIC insured up to $250,000
- $100 deposit to open