Cash Management

Bill Pay Service

Use free online Bill Pay to pay individuals or companies in the U.S. Schedule payments immediately, future-dated or on a recurring basis.


Tenant Security Account

One account system for all security deposits simplifies your bookkeeping and pays you a management fee without reducing your tenant’s principal.

  • All security deposits are maintained in individual sub-accounts and the Bank tracks them separately for you.
  • You will receive monthly, quarterly, and annual reports.
  • No per item or monthly maintenance fees.
  • No minimum balance required to earn interest.
  • The Bank remits a 1% management fee to you which comes from interest earned. 1
  • Tenants receive interest. 2

Escrow Management Account

Escrow Management Accounts let you transact business for your clients without expensive monthly fees. Unlike most banks, we maintain each sub-account separately.

  • No monthly service charge.
  • Our computer system handles all record keeping and tax reporting.
  • Detailed monthly statements for all sub-accounts.
  • Variable interest rate compounded daily.
  • Get balance information and make transfers by telephone or email.

 

1 Management fee only in New York.
2 New York accounts only.

Call Hanover Community Bank at (516) 248-4868 or (646) 569-3600 for more information on our banking products and services. Branch location, hours of operation and other related information can be found on our Contact page.

All Hanover Community Bank accounts are insured by the FDIC for at least $250,000.

Have more questions? Check out our FAQs page for additional information.