If you are a lawyer, this is the account for you.
Act 165 of 2013 establishes that every lawyer or firm that receives qualified deposits from a depositing client, must use an IOLTA account (Interest On Lawyer Trust Account).
This deposit account is for lawyers that manage their clients’ funds so that the interests they generate can be used by the Fondo para el Acceso a la Justicia de Puerto Rico (Funding for the Access of Justice in Puerto Rico) to provide resources for nonprofit organizations, allowing them to offer free legal representation for people with low-income.
IOLTA Account Benefits
- $0 Opening balance
- $0 Minimum balance required
- $0 Monthly maintenance service charge1
- Unlimited transactions (debit/credit) free of charge2
- Interests generated are automatically transferred directly to the the Fondo para el Acceso a la Justicia de Puerto Rico (Funding for the Access of Justice in Puerto Rico) in compliance with Act 165 of 2013
- Free access to view your account through Online Banking
Contact us! Call
787.282.4306 or visit your nearest branch.