MidSouth Bank | Business Services | Commercial

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I.O.L.T.A Checking (Interest on Lawyers' Trust Account)

Designed for Attorneys and Law Firms that want an interest bearing checking account for attorney clients whose funds on deposit are either nominal in amount or to be held for a short time and whereby the interest earnings are paid to the Louisiana Bar Foundation.

Minimum Opening Deposit: $100.00

Minimum Balance to Avoid Monthly Fee: N/A

Maintenance: Transaction and Service Charges

Checks written = $0.20 each
Items deposited = $0.10 each
Interest accrues on daily collected balances of $1,000+

Credit Allowance: No

Earns Interest: Yes *

Eligible for Business Value Membership: No

* Interest-bearing commercial checking accounts are limited to sole proprietorships, non-profit organizations, and governmental units.