Business—Trust and Escrow
Grand Bank, N.A.'s Funds Management Account is designed to allow attorneys, surrogate's officers, and realtors to maintain multiple client accounts within one trust or escrow account. The account complies with all the record keeping requirements of the Office of the Attorney Ethics and the Real Estate Commission Board.
- Each client's funds are insured up to $250,000 by the Federal Deposit Insurance Corporation.
- Detailed monthly statement for each client's transactions.
- Separate bookkeeping for each client.
- No monthly service charge on the attorney trust or realtor escrow account.
- Client accounts can be either interest bearing or non-interest bearing.
- Monthly client statement will have cumulative transactions from date account opened.
- IRS 1099 forms generated by the bank for each client account if necessary.
