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Escrow Management Account

One Account that does it all.

 

 

Escrow Management Account

Operating a Master Escrow Account means no more spending valuable time managing individual escrow accounts. No more traveling back and forth to our bank or maintaining this information for each sub-account on your system. No more preparing year-end 1099 forms. You will eliminate the administrative hassle associated with handling of these deposits by simply opening a Master Account and Metuchen Savings Bank does the rest.

Saves Time & Resources For:

  • Realtors
  • Title Agencies
  • Property Managers
  • Landlords
  • Attorneys
  • Municipalities
  • Housing Authorities
  • Builders
  • Developers
  • Financial Officers

Here's how it works:

  • We establish and computer track your escrow account and sub-accounts.
  • We send you a comprehensive monthly statement summarizing the activity in the Master Account and detailing activity for each sub-account.
  • You have immediate access to these funds by simply sending us a fax and writing a check.
  • We prepare 1099 forms for each of the sub-account holders.
  • Each sub-account is FDIC insured to $250,000

Get Started

All you have to do to get started is open a Master Account and a business checking account for disbursements. Make deposits with a special deposit ticket which provides for the name, address and Tax ID number of your client.

When you require a disbursement, give us a call, send us a fax and we transfer the funds into a disbursement account, you write the check and you don’t have to come back into the bank.

 

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Welcome

Metuchen Savings Bank would like to personalize your banking experience. Please enter your first name below.

This level of personalization will not lead to the sale of your name or leak your identity. The information you provide will only be stored on your computer and will not be transferred to any other source.

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