Business Services
Escrow Account Management:
Provident’s Escrow Account Management allows you to be in total control of all funds at all times.
You have one checking account for disbursement of funds and one 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
Provident 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 732-726-5417 or visit a nearby Provident branch today.