Do You Need an IOLTA Account?

Issues that determine whether an account will generate net interest are:

  • Interest rate paid on the account
  • Amount of service fees charged on the account*
  • Minimum balance requirements on the account
  • Average daily balance in the account

 * Service charges on IOLTA accounts are billed directly to, and are paid by, the
Texas Access to Justice Foundation and may not appear on attorneys' bank statements.

See also:

Instructions on opening an IOLTA account

IOLTA Notice Form

Financial considerations of maintaining separate client accounts

"A Lawyer's Guide to Client Trust Accounts"

 

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