CLIENT FUND MANAGER

Client Fund Manager (CFM) is an escrow bookkeeping checking account specifically designed for individuals or organizations that act as escrow agents for third parties, such as: 

• Real estate companies handling earnest money 
• Title companies handling escrow deposits
• Property managers handling security deposits
• Brokerage companies managing real estate investment funds
• Attorneys
• Funeral home operators

CFM simplifies bookkeeping and tax reporting by linking multiple interest bearing and non-interest bearing “client” accounts to a single “master” commercial checking account.

Among the benefits of CFM:

• Keeps track of funds that move in and out of your client accounts
• Generates a single, consolidated statement for the entire CFM relationship
• Creates and mails 1099 tax reporting to you or your clients
• Deducts service charges for each client account from the master account
• Reduces costs and complex accounting systems required to manage client funds
• Allows up to 1,000 client accounts per master account

Contact a Wachovia Relationship Manager for more details.

Related Links

•Real Estate Financial Services

Corporate & Institutional Customer Service