Make The Complex Simple:

Automate Your Commercial Escrow with CNB

Imagine an online platform that takes the burden of managing commercial escrow off your hands for good. No more concerns about tracking complex deposit flows from multiple customers, clients or members. No more worries about maintaining regulatory compliance. A mountain of paperwork—and headaches—suddenly disappear. And in their place is a simple solution that you can trust 24/7 to take care of the people you serve, and you.

How can our online commercial escrow services simplify your life? Let’s take a closer look.

How do our commercial escrow services work?

When you think of an “escrow account,” you might think first of mortgage escrow, where the home lender holds mandatory payments collected monthly for real estate taxes, homeowners insurance and private mortgage insurance until disbursement.

Commercial escrow is different: it’s a specialized deposit account that an organization opens with a financial institution like CNB St. Louis Bank to hold and manage funds for a variety of purposes on behalf of its customers, clients or members.

A commercial escrow account connects three parties:  your organization, your customers, and CNB St. Louis Bank.

The account is divided into “subaccounts,” one for each customer to keep the funds separate. We collect, hold and disperse funds as specified by the escrow agreement, while complying with all regulatory requirements every step of the way.
Customer Escrow Graphic that shows With and Without the CNB Commercial Escrow Services

A great example is a 1031 Exchange, where we hold the funds generated from a property sale. All account activity is easily visible to all parties: the title company, seller, and bank.

Many organizations benefit from commercial escrow accounts. This service is a proven way to manage complex deposits for a variety of institutions, including:
  • Nonprofit organizations
  • Healthcare companies
  • Municipalities
  • Law firms
  • IOLTA Accounts (Interest on Trust Account Program); examples include the Missouri Lawyer Trust Account Foundation and Lawyers Trust Fund of Illinois
  • Landlords and property managers
  • Homeowners associations
  • Real estate offices
  • Insurance companies
  • Unions
  • Assisted living facilities
  • Funeral homes
  • Transportation organization
  • And many others
Virtually any organization that collects and manages funds on behalf of its customers, clients or members can benefit from a commercial escrow account at CNB St. Louis Bank.

We make it simple

  • 24/7 online platform: Your customers and you can quickly and easily see account balances, interest paid and all disbursements—anytime, anywhere.

  • Complete digital connectivity: All three parties—your organization, customers and CNB St. Louis Bank—are connected online. So every transaction—such as making a deposit—is automatic and seamless.

  • Automated eStatements: Get a complete picture of each customer’s account activity, with no effort on your part.

  • Simple subaccount management: Create, close and monitor subaccounts easily.

  • Precise interest splitting control: So interest is calculated and paid accurately to each customer’s subaccount.

  • Seamless regulatory compliance: We’ll monitor and help ensure full compliance—so you don’t have to.

  • Detailed accountability and approval workflows: Gain full transparency for complete confidence.

  • On-demand reporting: Get full visibility into your commercial escrow account—including by subaccount—whenever you want.

Commercial Escrow. For You.

If you need to collect and manage funds on behalf of multiple customers, clients or members, make it easy with our online commercial escrow services. You’ll not only help yourself, but also our community as we lend those dollars to your neighbors to grow businesses, own homes and build a better life. It’s just one more way we’re Banking. For You.