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The IOLTA Account (Interest on Lawyer’s Trust Account) has been specifically designed for attorney’s trust accounts. The interest earned goes to a non-profit organization administered by state bar associations. Call MCB for current rates.
- A minimum of $2,000 is required to open this account.
- A maintenance fee of $10 will be imposed every statement cycle if the average daily balance for the statement cycle falls below $2,000.
- A minimum average daily balance of $2,000 is required to earn interest.
- An item fee of $0.15 will be charged for each item in excess of 250 during a statement cycle. An item may be defined as a deposited item, debit or credit.
If you have questions about our IOLTA Account, click here to e-mail Client Care.
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