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Escrow Express

Online Radius Bank® Merchant Escrow Express

In control anywhere, anytime

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With Online Radius Bank Escrow Express, clients have full control over their escrow accounts and the convenience of online access — there is no longer a need to go to a branch or contact a service team. Clients can make a deposit directly into their master account via check, wire transfer or Automated Clearing House (ACH) transaction. Funds from the master account can be easily allocated to individual sub-accounts.

Opening and maintaining escrow accounts for your clients can be costly and time-consuming. Our Escrow Express service was designed to make it easy and affordable. This program is specifically designed for attorneys, property managers, home builders, realtors, title companies, funeral homes, state and municipal governments, and courts.

Online Radius Bank Escrow Express is an online subaccounting platform for escrow agents and other entities that manage third-party funds or require separate accounting for escrow funds. Clients benefit from:

  • Around-the-clock access through Intellix®, Online Radius Bank’s treasury management portal
  • The automatic calculation and credit of interest payments and a final payout when accounts are closed
  • The convenience of writing their own checks to make a final payout or sending a wire transfer using Online Radius Bank’s online banking platform
  • Detailed, up-to-date reporting, as well as account summaries and statements
  • System-generated 1099 statements at year end

A seamless online experience

Clients can make a deposit directly into their master account via check, wire transfer or Automated Clearing House (ACH) transaction. Funds from the master account can be easily allocated to individual sub-accounts. When it is time to close an account, the system automatically calculates the payout amount and moves the interest to the master account. From there, clients can disburse the funds using multiple payment channels, depending on their preference.

“We’ve taken a very manual process and transformed it into a seamless digital experience,” Prakash says. “Clients can even use our remote deposit service to deposit checks directly into their master account — eliminating the need to go into a branch. We’re always there to help, but more often, with Online Radius Bank Escrow Express, clients prefer to take control and process their own transactions online — easily and efficiently.”