Deposit Escrow Sub Accounting (DESA)

We’ve designed our Deposit Escrow Sub Accounting (DESA) products and services with your needs in mind. This product and service is ideal for property managers, landlords, attorneys, or anyone needing to hold deposits in escrow for another party.

Not only will this account help you better manage your client/tenant security deposits, it will also provide you with great benefits like interest on your subsidiary accounts, monthly statements for your master account, annual statements for your client/tenant accounts and FDIC insurance for each account.

We can also help reduce your administrative burdens with 1099 IRS Tax Forms automatically issued to clients at year-end

Features and Benefits

  • A single master account will be established for all transactions
  • A subsidiary account will be established for each client/tenant
  • Unlimited sub accounts per master account

Account Detail

  • Minimum to open: $50.00
  • W-9 form for each client/tenant required

Ready to get started?

Contact us to establish a new DESA Relationship or for assistance with your existing DESA account.  Your banking relationship with us is very important. If you have any questions about DESA Account Relationships, please give us a call at 732-364-0032 or contact us at DESA@firstcommercebk.com to speak to our friendly Customer Service Staff.