Build your trust and support a great cause. Established by the federal government and offered through Webster Five, the Interest on Lawyers’ Trust Account (IOLTA) is a tiered-interest, no-fee checking account designed for attorneys and law firms that hold money in a trust or an escrow account on behalf of their clients.
All interest earned is automatically remitted to the Massachusetts IOLTA Committee by Webster Five on a quarterly basis. These funds are then used by the state to pay for legal services for people who are unable to afford attorneys on their own.
Features and benefits:
- Tiered interest earned at $10 or more
- Mobile banking
- Online banking with alerts and reminders
Monthly maintenance fee:
In addition to our IOLTA checking account, Webster Five offers other products and services for attorneys and law firms. For more information, visit the Attorneys’ Industry Solutions section of this site.