Available exclusively to lawyers, an Interest on Lawyers Trust Account (IOLTA) simplifies account management and generates funds to provide legal services to those in need.
Key Features
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Free Digital Banking
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Cash Management Available
Benefits
- Generate funds to provide civil legal services for the poor
- Available at no cost to you, your clients, or the public
- Nominal interest is pooled to fund these services
- No minimum balance to earn interest
- Interest is paid to Tennessee Bar Foundation (TBF)
- Low $5 monthly service fee is automatically deducted from interest paid to the account
- If interest is less than $5, the service fee will equal the amount of interest
- Free digital banking, including:
- Online banking & bill pay
- Mobile banking with mobile deposit
- eStatements
- Cash management available
- FDIC insured
- $100 minimum deposit to open
