If your business holds funds for clients, BankRI’s Client Escrow Manager is a unique and convenient way to keep track of your client accounts. We provide detailed account statements with each client’s funds reported separately and a master account summary for all your client accounts. Client accounts may be interest bearing or non-interest bearing. It’s easy to distribute the funds – a simple phone call allows you to transfer funds to the master account. At tax time, we even take care of mailing your clients a Form 1099.
If you’re a lawyer who manages client funds, our IOLTA accounts offer convenient record keeping and competitive interest. The interest you earn is transferred either monthly or quarterly in accordance with applicable IOLTA rules.
For more information, simply stop by one of our branch locations, or call us at (866) 4-BANKRI, weekdays from 8:00 a.m. to 8:00 p.m., and Saturday from 9:00 a.m. to noon.