Do you or your organization act as an escrow agent for third parties? Reduce operating costs and servicing time with one of our Escrow Services accounts.
Types of Accounts
Escrow agents who manage client funds can do so by linking interest-bearing client sub-accounts with a non-interest-bearing escrow agent master checking account.
We offer two types of Escrow Services accounts for separately tracking client funds: the Lease Security Deposit Account and the Master Escrow Deposit Account.
Lease Security Deposit Account
This account is designed for landlords who act as trustee for tenant security deposit funds.
Master Escrow Deposit Account
This account is designed for professionals who act as trustee for client funds – such as attorneys, title companies, home builders, co-op/condo associations and funeral homes that hold funds in trust for clients.
Benefits of Escrow Services
- Unlimited number of sub-accounts per master account
- Checks for disbursement directly from the master account
- Monthly combined statement summarizing account balances and interest for all sub-accounts established under a specified master account
- A comprehensive audit trail including 1099 tax reporting managed by M&T
- Online sub-account management via Escrow Online
How Escrow Online Works
Escrow Online allows escrow agents to effectively manage client sub-accounts and allocations online.
Ready to get started?
Contact us to open a new Escrow Services account or for assistance with your existing account:
- Phone. Call 1-800-724-2240 to speak to a Commercial Service Team Representative, Monday–Friday 8am–6pm ET. Or you may call your dedicated M&T Relationship Manager if you're already an M&T client
- Visit a branch. Stop by your closest M&T branch to open an account or learn more
Account Management Tools for Current Escrow Services Clients
Existing Escrow Services clients can use these helpful tools to manage sub-accounts, allocate funds, and access tax and other forms.