Escrow Servicing

Easy for You & Easy for Them

No two customers are alike. No two transactions are alike. And nobody is more keenly aware of this than the escrow servicing team at First National Bank Alaska. We offer you options to save time and money.

Escrow Account

This account is an ideal way to establish an official record of a transaction, a payment or a loan secured by collateral, and process disbursement of funds. Escrow servicing can help you with many types of transactions including:

  • Owner or seller-financed real estate sales
  • Selling a business
  • Mobile home sales
  • Vehicle or ATV sales
  • Equipment sales
  • Stocks and business purchases

You'll need these forms to get started: Business Escrow Application (383k PDF), Request for Taxpayer Identification Number and Certification (W-9 Form) (84k PDF)

Collection Account

Simplify making and receiving payments. First National acts as bookkeeper for the collection of a debt without collateral. This account legitimizes a debt owed and serves as a way to establish good payment history.

  • Private loans
  • Sale of liquor license
  • Healthcare providers and patients
  • Leasing agents and businesses offering in-house financing

These forms will help you get started: Business Escrow Application (383k PDF), Request for Taxpayer Identification Number and Certification (W-9 Form) (84k PDF)

Collection by Payee Only Account (includes Rentals)

Whether you're a landlord, property management firm, homeowners' association, salon or spa owner, or healthcare provider extending credit, we're here to help you save time on collecting payments and bookkeeping.

First National's Rental Account or Collection by Payee Only Account can free up your precious resources by tracking and disbursing proceeds and emailing consolidated payment information and delinquency reports.

  • Condominium fees
  • Homeowners Association (HOA) fees
  • Salon / Barbershop booths
  • Healthcare bills
  • Single family homes
  • Multi-family properties
  • Commercial property

Rental Collection Program

If you have tenants, we can help you take care of everything: payments, deposits, accounting, reports, even late payment reminders to your tenants. When you sign up, the process is simple:

  • Provide First National with your tenants' names, mailing addresses, property addresses, payment amounts, due dates and late charge information.
  • Your rental income is disbursed to your First National deposit account.
  • Receive weekly and monthly reports showing income and payment status and a year-end recap report. You can even set up automatic late payment reminder notices.

A one-time set-up fee is just $30 per unit, with an annual $100 fee. There are no additional costs for disbursements to your First National deposit account. An additional fee is charged for electronic funds transfer (EFT) to another financial institution. Cashiers checks can also be issued for an additional fee.

These are the forms you'll need to get started: Business Escrow Application (383k PDF), Collection by Payee Only (327k PDF), Request for Taxpayer Identification Number and Certification (W-9 Form) (84k PDF)

Closing Escrow

Use this escrow for transfer of limited entry fishing permits, Individual Fishing Quotas (IFQs), Charter Halibut Permit (CHPs), liquor licenses and more:

  • Individual Fishing Quotas (IFQs)
  • Limited Entry Permits
  • Charter Halibut Permits (CHPs)

For these transactions, contact our specialists directly.

Milestone Escrow

We understand you may have another situation that isn’t listed above. So for any other unique transaction that may benefit from being serviced by a neutral third party, contact our specialists directly.

The Local Difference

Our escrow servicing team offers more services and options than any bank in Alaska. Local experts are here to offer solutions to meet your needs. Contact us for additional information and current escrow options. Or call 907-777-3430 to speak with a friendly, local Alaskan.

Frequently Used Escrow Forms

These forms may be printed, completed, and returned to The Escrow Department, First National Bank Alaska, P.O. Box 100720, 1821 Gambell Street, Anchorage AK 99510-0720 or dropped off at any of our convenient branches throughout Alaska. Original signatures are required. Additional forms may be needed.