IOLTA

Interest On Lawyers Trust Accounts (IOLTA) checking accounts are limited to attorneys and law firms that maintain escrow funds for multiple clients. An IOLTA checking account pools the funds into a single, interest bearing account. Interest earned, less any permitted service fees, is forwarded by BankFinancial to the Lawyers Trust Fund of Illinois to fund legal expenses for those who are unable to afford legal services, and other justice related projects of the board.

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Account Advantages
  • No minimum required opening balance
  • No minimum balance requirement
  • No fees
  • Interest bearing - view rates

 


Business Checking Accounts

 

Small Business Checking

Analyzed Business Checking

Civic Checking

Public Funds Checking

IOLTA

Minimum Opening Balance

$500

$500

$100

$100

None

Minimum Daily Balance

$1,000 to earn interest

None

None

None

None

Interest Bearing

Yes for sole proprietors

Earnings Credit

Yes

Yes

Yes

Online Bill Pay Options

Free Unlimited

Free Unlimited

Free Unlimited

Free Unlimited

No

Free VISA Check Card

Yes

Yes

Yes

Yes

No

24/7 Bank-by-Phone

Yes

Yes

Yes

Yes

No

Unlimited Check Writing

Yes

Yes

Yes

Yes

No

Free Online Banking

Yes

Yes

Yes

Yes

No