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:
Here's how it works:
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.