Benefits Beyond Business Checking
Along with excellent checking options, Flushing Bank provides you with a number of opportunities to earn interest on unused funds. These include:
- Business Money Market - Put your excess cash to work, while maintaining liquidity and accessibility to your funds. Flushing's Business Money Market Account gives you limited check writing ability and offers a tiered interest rate structure, so you'll earn a higher rate for larger balances.
- Business Certificates of Deposit (CDs) - We offer an array of low minimum balance CDs for businesses that are looking to secure funds for credit or other related purposes, with terms ranging from three to sixty months. You'll benefit from a great rate, no monthly fees and the ability to choose a term that's right for you.
Attorney Escrow Management Account
Our easy to use Attorney Escrow Management Account features a master account as the primary disbursement account that is linked to individual interest-bearing sub-accounts for each client. Both client and attorney benefit from this escrow management account: client’s funds earn interest, while this service fully automates record keeping and reporting for attorneys. Take advantage of:
- Reduced record keeping time
- Competitive rate of return on clients’ escrow funds
- Free transfers between master checking account and client sub accounts
- Combined Monthly Statement
- 1099 reporting on each client sub-account
Interest on Lawyer’s Account (IOLA)
This escrow fund management account is ideal for attorneys who need to hold nominal, short-term client funds. Flushing Bank's IOLA satisfies all the legal requirements for such accounts. Take advantage of:
- Reduces record keeping
- Takes care of all reporting and payments to the state IOLA Fund
- Provides a detailed statement outlining all account activity
For more information on our Business Checking, Commercial Checking, Attorney Escrow Management Account or the Interest on Lawyer’s Account (IOLA), feel free to stop by your local branch or call us on 800.581.2889. We look forward to meeting you!