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Master Escrow Accounts 

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A Master Escrow Account provides you and your clients/tenants with single account convenience while maintaining the total segregation of each client's or tenant's funds in interest-bearing accounts. This eliminates much of the paperwork related to administering or investing client funds.

 

  • The main corporate checking account is used to disburse funds. All funds reimbursed to clients/tenants are taken from their sub-account and a check is drawn for the exact amount. As a result, the balance in the corporate checking account will always be zero.
  • All information on the main operating account and all detailed information on the various client/tenant sub-accounts is sent monthly.
  • The year-end interest figure for each individual client/tenant is calculated by the Bank.
  • A completed IRS Form 1099 is mailed directly to the client/tenant.

A Master Escrow Account is a simple and easy way to manage your client or tenant accounts.


Call any of our branch offices or a Cash Management Officer today for more information or to open an account.

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Contact Us

Cash Management

MA - Patty Mahoney
SVP, Cash Management Manager
781-418-6824
pmahoney@berkshirebank.com

MA Berkshire County & Pioneer Valley -
Ashley Clark
Cash Management Officer
413-452-5165
aclark@berkshirebank.com

MA Eastern & CT -
Betsy Raymond
VP, Cash Management
508-329-7459
braymond@berkshirebank.com

VT - Claudia Caporale
AVP, Cash Management Officer
802-549-5280
ccaporale@berkshirebank.com

 
 

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