Complex business services need tailored solutions. That’s why we help New York-based law firms set up Interest on Lawyers Accounts (IOLA). Drawing on the state’s IOLA Fund, these specialized accounts help improve the quality of justice by using interest accrued on legal clients’ escrow deposits to support legal aid and education.
- No minimum balance required*
- No monthly service fees
- Unlimited deposits and withdrawals
- Interest earned on IOLA accounts transfers to the New York State IOLA Fund on a monthly basis. Accrued interest goes toward IOLA Fund grants to nonprofit civil legal services across New York state.
- Before opening an IOLA account, please visit our FAQ page to review a list of required documentation and disclosures.
- Checks must be drawn on interest-bearing IOLA accounts only.
*A $1.00 deposit plus check printing charges required to open account. Available only to lawyers or law firms registered to practice law within the state of New York.