Keep your client’s funds secure

An Elevations Business Escrow Account is a specialized deposit account for businesses that hold money on behalf of clients or third parties. Funds remain secure until the agent determines the conditions of Escrow have been met.

They’re ideal for organizations with fiduciary responsibilities, including:

• Property managers
• Real estate professionals
• Attorneys and professional service providers
• Other businesses that must separate and safeguard client funds

These accounts help ensure proper fund segregation, compliance, and client confidence.

The funds belong to the beneficiary, not the business. The business serves as the fiduciary and must follow all legal or contractual requirements for holding and disbursing the funds.

No. Elevations does not act as an agent, trustee, or escrow manager. Your business is solely responsible for:

• Managing and disbursing funds
• Maintaining records and documentation
• Ensuring compliance
• Identifying authorized users

Elevations simply provides a segregated account for holding the funds. 

Separating funds (avoiding “commingling”) preserves fiduciary protection, supports compliance, and shields client money from business liabilities.

No. Elevations Business Escrow accounts include:

• No monthly maintenance fees
• No setup fees
• No minimum balance requirements

Yes. You may choose a dividend‑paying or non‑dividend‑paying option, depending on your needs and agreement with your beneficiary.

No. Funds can be deposited, withdrawn, or transferred at any time. All activity should follow the terms of the escrow or trust agreement.

You can manage your account through:

• Elevations Digital Banking
• Phone, chat, or secure email
• Branch visits or mail

Online access includes check images and transaction history to support accurate recordkeeping.

No. Elevations does not currently offer COLTAF accounts.

Your business must:

• Be an existing Elevations business member
• Maintain an active business checking account in good standing

Contact an Elevations Business Banking Relationship Manager or visit a branch.