CASH MANAGEMENT
Escrow Account Management
From The Provident Bank of NJ
Provident's Escrow Account Management allows you to be in total control of all funds at all times.
You have one business checking account for disbursement of funds and one business savings account; which houses separate sub-accounts for each individual client or case. For control and reporting purposes, sub-accounts are never intermingled.
Escrow Account Management can be used by:
- Attorneys
- Property Managers
- Realtors and Title Agencies
- Municipalities
- Housing Authorities
- Funeral Homes
Spend less time managing your escrow accounts. We will give you the flexibility of:
- Opening sub accounts without notification to the bank
- Choosing your own sub account numbers
- Making partial withdrawals simply by writing a check
- Phone or fax is all you need to close sub accounts
Provident will reduce the administrative burden on you organization by providing:
- All year-end 1099 and IRS reporting
- Escrow Trial balance Report
- Escrow Account Statements
- Escrow Check Register
The Provident Bank of NJ can also accommodate those larger clients seeking a higher return. Our Escrow Investment Manager provides all the advantages of escrow accounting while earning a competitive return on funds typically held in a CD or Money Market Account.
Contact a Cash Management Officer at 732-726-5441 or visit a nearby Provident NJ Bank branch today.
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