IOLTA
This beneficial program lets lawyers and law firms establish dividend-bearing accounts for client deposits which are nominal in amount or expected to be short term. Examples are real estate deposits and closings, personal injury awards, and litigation settlements.
We remit all dividends generated from client accounts to the Massachusetts IOLTA Committee, who distributes it into three charitable entities: The Boston Bar Foundation, The Massachusetts Bar Foundation, and The Massachusetts Legal Assistance Corporation. These organizations make the funds available to individuals in need of various legal services.
Summary
- Interest-bearing account
- No minimum daily or monthly balance requirements
- No monthly service charges
- Interest is sent to the Massachusetts IOLTA Committee
- Free first order of checks (up to $100)
- Free 24-hour S.M.A.R.T Line Telephone Banking System
- Free wire transfers
- Only $10.00 minimum deposit to open
Take a look at our current rates.