Business Banking - Special Purpose Business Accounts

Business and legal transactions often require special bank accounts and services. United Bank can help you here, too.

Features Limitations Terms
Escrow Savings Account

Designed for escrow fund managers with fiduciary responsibility for their clients funds

Must deposit $100 to open this account

Must maintain a minimum daily balance of $150 to obtain the disclosed annual percentage yield

Withdrawals are not permitted without the authorization of the account manager

Interest rate determined by Bank

Interest rate and annual percentage yield may change

Interest begins to accrue on the business day of the deposit

Interest is compounded daily and credited monthly

Estate Checking

Designed for customers who serve as administrator or executor of a decedent’s estate

Must deposit $500 to open this account

Must maintain a minimum daily balance of $500 to avoid a monthly service charge of $10

Interest on Lawyers Trust Accounts (IOLTA)

Ideal for law firms or partnerships

Account developed to help defray legal costs for low-income individuals

Offset monthly fees with earnings credits on the collected balance

Interest earned on the account is transferred monthly to the Bar Association

Must maintain a minimum balance of $1,500 to obtain the disclosed annual percentage yield

$25 monthly maintenance fee

0.15 per local check deposit

0.20 per foreign check deposited

0.25 per deposit ticket

0.20 per check paid

Interest rate determined by the Bank.  Interest rate and annual percentage yield may change

Interest begins to accrue on the business day of the deposit.  Interest is compounded daily and credited monthly