Country Bank’s Escrow Manager and Tenant Security accounts gives attorneys, realtors, title companies, municipalities and landlords the ability to manage funds under a master account with multiple interest-bearing sub-accounts. These accounts will include annual interest and 1099 processing, and quarterly or monthly statements for all sub-accounts.
Tenant Security Accounts
Country Bank works closely with landlords and managing agents to not only maintain Tenant Security Accounts but to comply with tenant security laws and regulations.
The benefits include:
- Streamlined recording.
- Maintenance and update of tenant deposits.
- Individual tenant tracking.
- Transaction and deposit activity reports.
- Issuance of all tax forms including 1099s.
- Annual or quarterly statements to each tenant.
Escrow Manager Accounts
Country Bank simplifies and streamlines escrow management, facilitates bookkeeping, provides effective reconciliation for managing client funds and information, and eases the burden and costs associated with regulatory compliance.
Other benefits include:
- Simplified escrow account opening and closing procedures.
- Consolidated statements for fast and easy reference.
- Reduction of costly paperwork.