No, your Master Account number will not change, the Master Account number you currently have will be the same Master Account number you have following migration.

Yes, your sub-account numbers will change, however, the new sub-account numbers will not be generated until migration occurs. You can continue to use your existing sub-account numbers until your new sub-account numbers arrive in the mail. 

You will receive a letter in the mail within ten days of migration with a list of your new sub-account numbers. 

You will notice a change in the look of the statements but they will contain similar information to what you are accustomed to viewing. Statements are available via paper or through online statements in Treasury Center or Online Banking for Business. With paper statements, each sub-account will have its own page outlining the sub-account transactions that happened during the month. Sub-account statements are also available individually through M&T Escrow Online, please talk to your banker to enroll.

Once you are migrated to the new system, the MTD and YTD values on your next statement will reflect partial data as of your migration date.

Please note: This refresh will only affect values on statements. This will not affect how interest is reported on your 2025 1099(s).

If you would like to track MTD and YTD values for your own internal reporting simply:

• Add the MTD and YTD values from your post migration statements to the MTD and YTD totals from your final pre migration statement,
• The sum of these values will be the complete MTD and YTD picture.

A sub-account is an account which you can create within the system to segregate funds and hold client deposits. All documentation required to open a sub-account is listed in question (8).

You can fund sub-accounts by sending a wire, ACH or a Real Time Payment directly to the sub-account number or by allocating funds from the Master. Transactions can occur directly on the sub-account via ACH, RTP, and Wire, you can also withdraw funds from the sub-account as a check payable to the sub-account holder.

For clients who wish to allocate funds, funds can be deposited into the Master and then allocated to a sub-account using M&T Escrow Online. If you previously used a form to deposit and withdraw from a sub-account, you can use the new Allocation Form.  Please note that this new Allocation Form is limited to only transferring funds between the master account and sub-account(s). 

All sub-accounts, unless denoted otherwise on the account setup form will be interest bearing and will receive its own 1099 under the TIN that is listed on the sub-account. Sub-accounts can be opened and closed anytime online, via the M&T Escrow Online site. Sub-accounts must have an aggregation applied when being opened, for more on aggregations see question (9). 

The holding account ensures a separation between client funds and Master account funds and allows for self service sub-account opening on M&T Escrow Online. The holding account is a core component of an escrow account, creating a barrier between sub-account funds and Master Account funds, ensuring a clear segregation of funds held by the customer in the Master Account and funds held on behalf of a client in a sub-account.

On the new system, the new escrow account structure will consist of a group of linked accounts:

• one Master Account,
• one Holding Account, and
• one or more sub-accounts.

The Master Account will function as the main account linking the sub-accounts together, allowing for transactions in and out of the setup, for more on the Master Account see question (5).

Sub-account funds are held in distinct accounts with their own sub-account numbers under the name and Tax ID provided by the customer. The sub-accounts allow for the segregation of funds as you see fit; each sub-account can also accept transactions to and from the sub-account, for more on sub-accounts see question (6).

The holding account will lie beneath the sub-accounts and will house the funds held in the segregated sub-accounts. All funds deposited in the sub-accounts, or allocated to the sub-accounts, will be represented in the holding account, allowing for the complete separation of Master Account and sub-account funds.

Only funds which are held in a sub-account are able to be housed in the holding account. 

Once a sub-account has been opened, the required tax documentation is not changing. A valid Taxpayer Identification Number and Certification Form (IRS Form W-9 or applicable W-8) completed and signed by the owner of the funds to be held in the sub-account, is still required to prevent interest withholding.

If you enroll in M&T Escrow Online, the new platform offers the ability to upload W9/W8’s to the bank directly through the site, so after a sub-account has been opened the supporting documentation can be conveniently uploaded to M&T, ensuring speedy certification.

If you do not wish to use the site's new document upload feature, we will still accept all required account opening documentation via fax, or secure email. All forms and documents can be faxed to the M&T Escrow Services Department at 1-888-964-8797, mailed to M&T Bank at P.O. Box 4621, Buffalo, NY 14240-4621, or emailed, please email EscrowServicesForms@mtb.com to receive a link to a secure email box which you can use to submit forms securely.

An aggregation refers to the building or group that a collection of sub-accounts belongs to. The aggregation level sits between the Master Account and the sub-accounts and is comprised of aggregations. An aggregation is a grouping that clients can apply to their sub-accounts, allowing sub-accounts to be linked together under a common identifier.  

A new aggregation can be created at any time, and you can have as many of these groupings as you choose. An aggregation is required and must be applied when opening a sub-account.

If your sub-accounts are not already under a group, an aggregation will be applied by M&T during migration. If you wish to change the aggregation applied by M&T, please contact your bank representative.

Applying an aggregation is a simple process. Each time you open a sub-account you will be prompted to determine the aggregation it should belong to, as a sub-account cannot be opened without one. In the system you will see aggregations referred to as Building, Property, or Group depending on the product you have selected. 

Yes, the new M&T Escrow Online system has a bulk upload file which allows for sub-accounts to be opened in larger volumes.

The bulk upload file is downloadable from the system as an Excel file. Once downloaded, clients can input their sub-account details into the file, after which the file can be uploaded directly to M&T via the M&T Escrow Online site.

All supporting documentation such as W8’s and W9’s can be uploaded with the bulk upload file to M&T via the M&T Escrow Online site. This file should be used for the opening of between 10-1000 sub-accounts. We have a guide to the bulk upload file which you can access with this link. 

Letters will no longer be mailed when a new sub-account is opened. If the sub-account is opened using the new Allocation form, a secure email with the new sub-account number will be sent.  If enrolled in M&T Escrow Online, you can elect to enable the system to send email notifications when a sub-account is opened or closed. To enable sub-account notification emails, please contact M&T’s Treasury Management Service Team at 1-800-724-2240, Monday through Friday between the hours of 8 am and 6 pm ET. Sub-account notification emails can be turned on or off at any time.

Yes, M&T will be rolling out an enhanced form to complement the new system. The new form can be found here, and instructions on how to use the form are listed on the back of the form.

The new Allocation form will be used for both deposits and withdrawals, as well as, opening and closing sub-accounts. There will no longer be separate forms for separate actions, as all escrow related activities can be performed with the single new form.

The new allocation form will also be used to assign aggregation levels to your new sub-account. More information about aggregation can be found in question 9.

Transactions cannot be made via the form from accounts external to the Escrow setup as the allocation form can only move funds between the Master Account and the sub-accounts.

All forms and documents can be faxed to the M&T Escrow Services Department at 1-888-964-8797, mailed to M&T Bank at P.O. Box 4621, Buffalo, NY 14240-4621, or emailed, please email EscrowServicesForms@mtb.com to receive a link to a secure email box which you can use to submit forms securely. 

No, funds which are in a sub-account are held and legally reported separately from funds held in other sub-accounts and will never be commingled. On the new system, sub-accounts can only be opened up as savings accounts, no other account type is permitted. 

There is an Escrow Services Account Maintenance fee for each M&T Escrow Services Master account. There is no additional charge for any number of sub-accounts or for adding M&T Escrow Online. The fee will be debited from your Master Account unless a separate account has been provided for billing purposes. 

Interest will be posted to the sub-accounts at the end of the last day of the statement cycle, provided the sub-account is open. In some instances if the sub-account is opened on the last day of a statement cycle, interest will be paid at the end of the last day of the next statement cycle. For sub-accounts closed during the statement cycle interest accrued prior to the day that the sub-account is closed will be paid. For more detail, refer to the Specific Features and Terms for M&T Escrow Services Sub-Account included in the letter you received prior to migration. 

Interest will be available for withdrawal from the sub-accounts as soon as the interest has been credited.

For clients with interest checks, the interest will be accrued by the sub-accounts in accordance with the Specific Features and Terms for M&T Escrow Services Sub-Account, however, interest will be disbursed in accordance with your interest check election on the M&T Escrow Services Setup Form.

Interest checks can be turned on at Master Account opening via the M&T Escrow Services Setup Form and can also be enabled following Master Account opening by reaching out to your M&T Bank representative.

The interest check election takes hold at the Master Account level. Once turned on, all sub-accounts opened under the Master Account will receive interest checks. Interest checks can be disbursed annually at year end, or they can be disbursed annually following the sub-account anniversary month. When enabling interest checks you will have the ability to choose the method that works best for you. 

To enable interest checks, please contact M&T’s Treasury Management Service Team at 1-800-724-2240, Monday through Friday between the hours of 8 am and 6 pm ET.

Yes, balances will be reported in real time on M&T Escrow Online. This means that transactions will be reflected on the system as soon as they happen.

For clients who wish to allocate transactions to sub-accounts, real time balances allow for transactions to be allocated to a sub-account the same day they happen, creating a more efficient allocation process. 

An Administrative Fee is a fee that landlords in the states of New York and Pennsylvania can charge their tenants. If applicable to you, the Administrative Fee will be credited to your Master Account monthly, following the same crediting cycle as interest or at time of sub-account closure. 

Administrative Fee can be turned on at Master Account opening using the M&T Escrow Services Setup Form and can also be enabled following Master Account opening by reaching out to your M&T Bank representative.

The Administrative Fee election takes hold at the Master Account level, therefore, once turned on all sub-accounts opened under a Master Account with Administrative Fee enabled will have all or a portion of interest earned by the sub-accounts designated as an Administrative Fee. For more information on Administrative Fees see question (22). 

No, following migration we will no longer send out Administrative Fee payments via check, instead we will directly credit your Master Account with your Admin Fee payment on a monthly basis.

Once credited, your Administrative Fee payment can be withdrawn from your Master Account by any means of withdrawal allowed by M&T, including but to limited to: ACH, check, book transfer, branch withdrawal, RTP, & Wire. 

Your Master Account can be added to your Online Banking for Business or Treasury Center profile for easy access to withdraw your funds.

Ensure your escrow account does not have any unallocated withdrawals.

• You can verify you do not have unallocated withdrawals by  confirming the "Ending Balance" in the top right of your statement is equal to or greater than the Total of "Current Balances" or the "Ending Balance" of all sub-accounts listed on your Combined Statement page.
• If you do have unallocated withdrawals, you will need to immediately allocate any unallocated withdrawals to the applicable sub-accounts by submitting an Allocation form or by allocating funds through Escrow Online.

If you currently use Escrow Online, prior to migration we recommend downloading your recent Transaction History, and saving a copy of your most recent statement. For more on this topic, see questions (3) and (4). 

Please order new checks if you do not currently have them which will give you the ability to distribute funds from the Master Account without utilizing Escrow Online. You can order checks by contacting Deluxe Corporation at 1-800-328-0304.

To ensure the best experience, prior to migration please read all materials that have been provided to you. If you have any questions. Please contact your M&T Bank representative or contact the Treasury Management Service Team at 1-800-724-2240, Monday through Friday between the hours of 8 am and 6 pm ET.

Yes, all clients who use Escrow Online will have multiple opportunities to receive training on the new platform, the training is not required, although it is heavily encouraged.

We understand that clients have varying schedules; to accommodate this and give all clients an opportunity to receive training, we will be offering numerous group training sessions.

Along with other migration materials, Escrow Online users will receive an email in which a training schedule is attached, the training schedule will have links to various Webex training sessions, there is no registration process you simply join the Webex that works best for you. 

Yes, to ensure the most secure client experience, following migration a Token will be required in order to access the M&T Escrow Online module.

For Escrow Online clients who are not already set up with Tokens, prior to migration M&T will contact you providing you with the information needed in order to setup and enable Tokens. If you would like to self-service and order your token directly, please the follow the steps below: 

1. Download PingID app on your mobile device.
   • iPhone:  Apple App Store
   • Android: Google Play Store
2. Log into Treasury Center using your current password or hard token.
3. Choose Security Settings under your name in the upper right corner.
4. Click “Register for Mobile Token.”
5. Follow the prompts to scan the QR code on the downloaded PingID app.

If you already have Tokens setup or do not plan on using the M&T Escrow Online module, no further action is required of you regarding Tokens. 

Please order new checks if you do not currently have them so you have the ability to distribute funds from the Master Account. You can order checks by contacting Deluxe Corporation at 1-800-328-0304.

If you currently have checks, you can continue to use them after migration.  If you use or enroll in M&T Escrow Online, you can distribute/issue checks directly through the platform and there is no charge for this service.