Escrow Management Account

Escrow Manager FAQs

• Question

  When will the change to ZEscrow Manager take place?

  Answer

  On June 5, 2023, the online login for your Escrow Management Services will change. Please note that there will be a transition period from June 1 through 3. During this time, clients will continue to contact Sandy Spring Bank to transfer funds and open and close new sub-accounts; however, you will not see the activity displayed in the existing Escrow Manager Account platform. All transaction information and account tracking during this time will be available in the ZEscrow Manager platform upon initial login.

  A Sandy Spring Bank representative will be contacting the authorized signer for the Escrow Manager Account in the coming weeks to provide additional guidance on this transition and schedule a training session for all users, if desired.

  Escrow Manager Account | ZEscrow Manager

• Question

  Will my Escrow Manager Account and Disbursement Account remain the same?

  Answer

  Yes, both account numbers will remain the same. The disbursement, or checking account, is now referred to as the Master/Operating Account within the ZEscrow Manager platform.

  Escrow Manager Account | ZEscrow Manager

• Question

  What steps do I need to take to login to the ZEscrow Manager on Monday, June 5, 2023?

  Answer

  On June 5, 2023, you will receive an email from "[email protected]" with a prompt to set up your new ZEscrow online access. By clicking the customized URL in the email, you will be directed to a new page that will allow you to establish a unique password. After establishing your password and agreeing to the required set of Terms and Conditions for use of ZEscrow Manager, you will be redirected to the homepage. 

  For all future logins, you will simply use the Escrow Management Account link found on the Sandy Spring Bank website. Your new login credentials will be your email address and your newly created password.

  Please note that any previously save or bookmarked links will need to be updated with the new login URL.

  Escrow Manager Account | ZEscrow Manager

• Question

  What are the ZEscrow Manager password requirements?

  Answer

  • Minimum of 8 characters required 
  • Passwords shall contain at least three of the following:
    • Uppercase alphabetical character 
    • Lowercase alphabetical character 
    • Numeric character 
    • Special character (those located above the number keys)

  Escrow Manager Account | ZEscrow Manager

• Question

  Are any existing Escrow Management features being removed?

  Answer

  While no existing features will be removed, access to past statement history will not transfer to the new online profile. However, sub-account statement history will remain accessible until June 30, 2023 through the current escrow manager platform.

  Please note that after June 30, 2023 those statements will no longer be accessible online.

  Escrow Manager Account | ZEscrow Manager

• Question

  How do I retrieve Escrow Management statements going forward?

  Answer

  Sub-account statements will continue to be available through the ZEscrow Manager online platform. Statements for the Escrow Manager Account will be made available directly through the ZEscrow Manager online platform. The Escrow Manager Account and sub-account statements will be available as a combined statement.

  Escrow Manager Account | ZEscrow Manager

• Question

  Will I need to continue to order and submit special deposit tickets for Escrow Manager subaccounts?

  Answer

  Special deposit tickets are no longer needed. New subaccounts can be opened directly through the ZEscrow platform.  A copy of the tenant’s W-9 will be required to be uploaded for interest reporting purposes.

  Escrow Manager Account | ZEscrow Manager

• Question

  Are Escrow Manager Deposit Summaries still required for ACH and Wires?

  Answer

  Clients receiving ACH or Wire deposits directly to the Escrow Manager Account will no longer be required to send a file to the Bank providing the sub-account detail to which those funds should be assigned. Moving forward, users will now login to ZEscrow Manager to assign all deposits which are labeled as Unassigned Transactions.

  Escrow Manager Account | ZEscrow Manager

• Question

  What is an Escrow Manager Unassigned Transaction?

  Answer

  Unassigned transactions are the deposits that have been made to the Escrow Manager Account and now need to be designated to the proper sub-account. Previously, special deposit tickets and Deposit Summaries were provided to the Bank and then provided to the Escrow Manager Account portal to be properly assigned. In the new platform, authorized users will have full control over the designation, making it quicker and more efficient. Through the unassigned transaction function you will also now have the ability to split a single deposit into multi sub-accounts if needed. It is important to note that all unassigned transactions must be acted upon as soon as possible, but no later than the last business day of each month in order to ensure proper reconciliation and calculation of interest.

  Escrow Manager Account | ZEscrow Manager

• Question

  How do I open a new Escrow Manager sub-account?

  Answer

  New sub-accounts can be opened and closed directly through the ZEscrow Manager online platform and will require an uploaded copy of the beneficiary’s W-9.

  Escrow Manager Account | ZEscrow Manager

• Question

  Can I still call the Bank to complete transfers after the migration to ZEscrow Manager?

  Answer

  No, one of the many benefits of ZEscrow Manager is that you now have full control to transfer funds and no longer need to contact the Bank to request to have the transfers completed. Training and a user guide will be available to walk you through the process should that be needed.

  
  Escrow Manager Account | ZEscrow Manager