Interest On Lawyers Trust Account (IOLTA)
IOLTA Checking accounts are designed for the escrow needs of law firms. It holds client funds in an interest-bearing account, with the accrued interest sent automatically to your state’s bar foundation. The accrued interest is used by the foundation to help those less fortunate obtain legal representation.
- Manage escrow funds
- No monthly service fee
- Convenient Online Banking
- $50 off first order of Harland brand business checks
Services for law firms
With variable cash flow, specialized bookkeeping and escrow management, for starters, real estate professionals have unique business considerations and contingencies.
Access lines of credit & term loans, commercial mortgages and SBA-guaranteed products built to address the needs of law firms.1
For long-term investment strategies and risk management, we can offer comprehensive advice and private banking solutions to help build your firm's portfolio, manage potential risks and provide needed guidance for your clients.
Miscellaneous fees may apply. Bank rules and regulations apply. Rates and fees may vary by state and region. Webster offers IOLA in New York.
1All credit products, pricing and overdraft protection are subject to the normal credit approval process. Some applications may require further consideration and/or supplemental information. Certain terms and conditions may apply. SBA guaranteed products may also be subject to additional terms, conditions and fees. All loans/lines of credit require a Webster business checking account which must be opened prior to loan closing and which must be used for auto-deduct of payment.