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Attorney Trust Accounts (IOLTA)
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This interest earning checking account is available to all California Attorneys and law firms that receive and disburse client funds. There is no monthly service charge and the interest earned on the account is remitted monthly to the California State Bar Association on your behalf. In accordance with Sections 6210-6228 of the California Business and Professional code, this account is for trust funds that are nominal in amount or that are on deposit for a short period of time. Features
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1 Rate information: our interest rate and annual percentage yield are subject to change on your account at anytime per our discretion. You can contact our branches for our current rates and Annual Percentage Yields. Compounding and crediting frequency: Interest will be compounded every month and submitted to the State Bar. Daily balance computation method: We use the daily balance method to calculate the interest on your account. The method applies a daily periodic rate to the principal in the account each day.