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Escrow management

Simplify accounting and reporting on multiple client accounts.

Manage multiple client accounts

Ensure the secure, timely and efficient deposit of funds for multiple accounts. Our Deposit Escrow Sub Accounting (DESA) services are ideal for property managers, real estate companies, attorneys, municipalities, or other businesses managing escrow funds for multiple clients. Benefits include:

  • Distribution of annual interest checks to escrow account holders
  • Simplified tax reporting – we’ll send 1099 INT year-end tax forms to escrow account holders
  • Ability to monitor and transfer between Master and sub-accounts
  • Multi-state capabilities within the People’s United Bank footprint
  • Organization of your escrow accounts into different categories with customized labels
  • Escrow transfer functionality and reporting available on eTreasury+, our online business banking solution

Why use Deposit Escrow Sub-Account services (DESA)

Simplify the management of client funds by linking sub escrow accounts to a Master operating or flow-through account. There are no limitations on the number of sub accounts you can add, and you may also establish multiple Master relationships.

With an easy-to-read monthly report including account name, balance and interest earned, you’ll have a convenient snapshot of all your escrow accounts.

Connect with a Treasury Management Expert

Whether you need to maximize your working capital, enhance operating efficiency, or control risk, we have treasury management products, services and tools to manage your business financial needs for long-term success.

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