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IOLTA/IOLA NOW Account

To open a IOLTA / IOLA NOW account or learn more about First Trade's business banking services, please contact a relationship manager today.
Overview

The IOLTA or IOLA (New York) Account is a client funds account utilized by attorneys where interest earned is distributed to charitable organizations. 

First Trade is an authorized participant in the following states to open client’s funds accounts:

  • Massachusetts
  • New York
  • Rhode Island

Benefits for attorneys who open an IOLTA/IOLA with First Trade include:

  • Check-writing privileges
  • No monthly service fees if an average monthly balance of $750 is maintained
  • FDIC–insured1
Features
  • ATM Card (for deposits only)
  • Standard Online Banking
  • Wire Transfers
  • Stop Payments
  • eStatements
  • Check Imaging
  • Electronic Funds Transfers
Rates & Fees
  • $5.00 plus $0.50 per check paid if $750 average monthly balance is not maintained

Contact us to learn more
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1 FDIC–insured up to at least $250,000 per depositor.

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