IOLTA checking
Build your trust and support a great cause. Established by the federal government and offered through Webster Five, the Interest on Lawyers’ Trust Account (IOLTA) is a tiered-interest, no-fee checking account designed for attorneys and law firms that hold money in a trust or an escrow account on behalf of their clients.
All interest earned is automatically remitted to the Massachusetts IOLTA Committee by Webster Five on a quarterly basis. These funds are then used by the state to pay for legal services for people who are unable to afford attorneys on their own.
Webster Five is proud to be a Massachusetts IOLTA Leadership Institution. Learn more about what qualifies a Leadership Institution here.
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Features and benefits:
- Tiered interest earned at $10 or more
- Mobile banking
- Online banking with alerts and reminders
Monthly maintenance fee:
- None
In addition to our IOLTA checking account, Webster Five offers other products and services for attorneys and law firms. For more information, visit the Attorneys’ Industry Solutions section of this site.
