Specialty Accounts - Santander
Are Specialty Accounts Right for your Business?
IOLTA is a proven solution for attorneys who manage short-term funds for their customers. Our accounts meet state IOLTA requirements for receipt of interest on attorney accounts.
- Use your monthly statements for a record of deposits, disbursements, and interest remitted to IOLTA.
- Access IOLTA accounts in every state where we have branches.
Many businesses rely on Escrow Accounts to organize and manage segregated client assets.
- Hold funds for a single client or use an Escrow Master-Sub Relationship for multiple client accounts.
- Use your consolidated monthly statements to keep track of client deposits and earned interest.
- Reduce your administrative burdens with 1099 IRS Tax Forms automatically issued to clients at year-end.
Zero Balance Accounts
If your business keeps large amounts of cash and multiple bank accounts, a Zero Balance Account makes it simple to manage your balances and to enhance your returns.
- Use your master account to maintain liquidity, and invest excess funds to increase your returns.
- Simplify funding and reduce the risk of idle cash balances.
- Reduce your need to track daily cash flows in each account.
A Sweep Account allows you to maximize returns on your idle cash.
- Choose an overnight Repurchase Agreement or Money Market Mutual Fund investment account.
- Have your principal automatically invested.
- Save time and earn higher rates of return, depending on your risk/return priorities.
NOT FDIC INSURED
NO BANK GUARANTEE
MAY LOSE VALUE