Archive for April, 2015

If you have no idea how to choose a bank based on anything other than how long it takes you to walk to the closest branch (or whether they offer lollipops at the teller window), I off the following checklist of other factors to consider. Not all banks are created equal, and most experts recommend reevaluating your banking needs not just at the start of your business but also every few years. As you comparison-shop, a business account officer from each bank you’re considering should be available to answer all your questions—though you might get the best scoop by asking around among your colleagues. Is it approved for IOLTA accounts? If you plan to hold client fees in trust (i.e., before you perform the work), you need to hold the money in an “Interest on Lawyers’ Trust Account” (IOLTA). In Massachusetts, attorneys may only hold IOLTA deposits in financial institutions that have […]