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Attorney Trust Accounts

Attorney Trust Accounts

Handling client or third-party funds requires care and expertise. City National Bank makes it easy for lawyers to separate accounts to simplify your process while providing benefit to your clients.

We can establish independent Attorney Trust Accounts or utilize pooled IOLTA deposits. IOLTA accounts have no service charge and fund programs for legal services to people who can't afford them.

  • Specific accounts for client or third-party funds
  • Competitive interest earnings (client earns interest)
  • Easy separation of each client sub-account
  • $1,500 minimum daily balance to waive the monthly service charge
  • Unlimited check writing
  • Check images included with statement
  • Free online banking with bill pay
  • $50 minimum deposit to open

An Interest on Lawyers' Trust Account (IOLTA) assists attorneys while generating funds to provide civil legal services to the poor at no cost to the lawyer, their clients, or the public.

  • Ideal when client funds are nominal or will be held for short time
  • No monthly service charge
  • Interest earned is paid to IOLTA fund
  • No added work to attorney
  • City National Bank forwards the fund earnings automatically
  • Unlimited check writing
  • Check images included with statement
  • $50 minimum deposit to open

How It Works

Lawyers routinely hold funds for their clients. In many cases, the amounts are nominal and/or held for a short period of time. In these cases, account service fees would offset or exceed any interest earned. By depositing these funds into an IOLTA, however, they are pooled with other IOLTA deposits to generate substantial interest. These funds are used specifically to provide legal representation and assistance to the poor, improvements in the administration of justice, and legal education to the public.