With Escrow Services, you may combine an unlimited number of individual escrow sub-accounts into a single master account.
Sovereign will maintain separate account records for each sub-account, and provide you with a clear and comprehensive consolidated statement each month.
By using this service, you will no longer need to keep track of individual accounts or 1099 forms.
- Consolidated statement
- Reduced paperwork
- 1099 forms prepared by Sovereign Bank
- Easy withdrawal from individual sub-accounts
- Interest-bearing accounts that pay competitive interest rates