If you are an attorney, real estate agent, property manager, title agency or any other organization who acts as an escrow agent for a third party, you need to check out Continental Bank’s free Escrow Manager account. Our account removes administrative burdens, simplifies accounting procedures, reduces expenses and frees up productive time for your employees.

How does it work?
An Escrow Manager account allows you to deposit escrow funds into a single master account and eliminates the need to maintain separate accounts for each client. One business checking account acts as a master account under which a series of individual sub-accounts are tracked by Continental Bank. Instead of getting monthly statements for each escrow account, you will receive one consolidated monthly statement showing each sub-account's balance and account history.

Best of all, an Escrow Manager account takes the burden out of annual 1099 reporting. Continental Bank mails 1099 forms directly to your clients.

• Generates a single, consolidated statement for all sub-accounts
• Interest is paid at the master account and sub-account level
• Keeps track of funds that move in and out of your client accounts
• Creates and mails 1099 tax reporting to your clients
• Can be used to manage to 1031 accounts
• Reduces costs and complex accounting systems required to manage client funds
• Convenient disbursement procedure - simply call a bank representative and the funds will be moved to a disbursement account

For more information, please contact us today.