Related Links: M&T Escrow Online | M&T Escrow Services Processing Forms
M&T Escrow Services is intended for individuals or organizations acting as escrow agents for third parties and is designed to help reduce operating costs and servicing time related to escrow management.
M&T Escrow Services Accounts
Lease Security and Master Escrow Deposit Accounts consist of one account, with two distinct parts:
- Master Account: Non-interest bearing checking account into which all deposits and withdrawals are made and to which sub-accounts are linked
- Sub-Accounts: Interest bearing savings accounts that allow the landlord/escrow agent to track each individual tenant’s/client’s funds separately
Lease Security Deposit Account
The Lease Security Deposit Account is designed for landlords who own residential and/or commercial properties. Landlords who manage tenant security deposits can do so by linking interest bearing tenant sub-accounts with a landlord master checking account.
Master Escrow Deposit Account
The Master Escrow Deposit Account is designed for professionals who act as trustee for client funds, such as attorneys, title companies, home builders and co-op/condo associations who hold funds in trust for clients, or funeral homes that establish burial accounts. Escrow agents who manage client deposits can do so by linking interest bearing client sub-accounts with an escrow agent master checking account.
Benefits of M&T Escrow Services
- Unlimited number of sub-accounts per master account
- Checks for disbursement directly from the master account
- Monthly combined statement summarizing account balances and interest for all sub-accounts established under a specified master account
- A comprehensive audit trail including 1099 tax reporting managed by M&T
- Online sub-account management via Escrow Online
If you have questions, please contact your dedicated M&T Relationship Manager or contact the M&T Commercial Service Team at 1‑800‑724‑2240 Monday through Friday between the hours of 8am and 6pm ET.