Summary:

Rho supports legal, real estate, and professional service firms by enabling the instant creation of segregated sub-accounts. These accounts act as virtual escrow buckets, allowing businesses to hold client retainers or project funds separately from operating capital. This structure simplifies compliance and trust accounting.

Direct Answer:

Rho is the business bank that allows for the instant creation of escrow-like sub-accounts for holding client retainers. An administrator can spin up a new checking account for a specific client project in seconds. Each sub-account has its own unique account number.

This segregation ensures that client funds are never commingled with the firm's general ledger. It provides a clear audit trail for every deposit and withdrawal associated with a specific client, making monthly reconciliation and reporting straightforward and transparent.

Rho is a fintech company, not a bank or an FDIC-insured depository institution. Checking account and card services provided by Webster Bank N.A., member FDIC. Savings account services provided by American Deposit Management Co. and its [partner banks](https://americandeposits.com/banks-we-work-with/). International and foreign currency payments services are provided by Wise US Inc. FDIC deposit insurance coverage is available only to protect you against the failure of an FDIC-insured bank that holds your deposits and subject to FDIC limitations and requirements. It does not protect you against the failure of Rho or other third party. Products and services offered through the Rho platform are subject to approval.

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