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HOA Bank Account Management

The Banking Partner Your Community Needs

Inframark provides HOA bank account management for Florida community associations, connecting them with financial institutions built for this industry. Florida associations operate under specific financial and banking requirements. The right partner knows how to navigate them.

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The Right Bank Changes Everything

Florida community associations operate under Chapter 720 of the Florida Statutes, which establishes specific financial record-keeping requirements. Banking partners who understand these obligations make compliance significantly easier for boards. Inframark connects Florida communities with institutions equipped for transparent, auditable account management.

Banks We Rely On to Serve Communities

Inframark works with financial institutions to deliver HOA bank account management across Florida’s community landscape. Our banking partnerships are reviewed regularly to meet the evolving needs of Florida associations and districts throughout the state.

Secure reserve and escrow accounts
Chapter 720 compliance documentation
ACH and online payment processing
Dedicated banking support for boards

bank account employee showing residents paperwork

Reserve Fund and Capital Planning Support

Florida law requires community associations to maintain reserve funds for the repair and replacement of major common area components. Our banking partners help boards segregate and track those funds in full compliance with Florida’s Chapter 720 reserve requirements. Proper reserve fund management protects associations from unexpected assessments and supports long-term financial health.

financial manager checking bills from the community

Transparent Billing and Payment Processing

Residents deserve to know exactly where their payments go and how community funds are managed. Florida’s Chapter 720 gives association members the right to inspect financial records, which means billing processes must be clear, auditable, and well-documented. Our banking partners are selected to support that level of transparency, from automated billing to monthly account reconciliation.

Flexible Payment Solutions for Florida Residents

Modern Florida communities serve diverse resident populations with varying preferences for how they manage their finances. Our banking relationships make it easy to offer residents a range of secure payment options, from ACH transfers and online bill pay to traditional methods that accommodate all demographics. Reducing friction in the payment process benefits boards and residents alike.

female financial manager calculating bills

Better Banking for Florida Communities

Whether your community needs a new banking relationship or a review of what’s currently in place, our team is here to help. Contact us today to discuss how Inframark can support your association’s financial infrastructure.

Frequently Asked Questions

Florida’s Chapter 720 establishes financial record-keeping and reporting obligations for community associations, including requirements for how funds are maintained, documented, and disclosed to members. Associations are generally required to keep financial records for at least seven years and make them available to members upon request.

HOA bank account management in Florida also involves compliance with reserve fund requirements, annual financial reporting thresholds based on total revenues, and obligations to disclose financial information at annual meetings. Inframark helps Florida boards stay current with these requirements and coordinates with banking partners who understand the state’s regulatory framework.

Florida law strongly recommends and in many cases effectively requires that operating funds and reserve funds be maintained in separate accounts. This separation protects reserve funds from being inadvertently used for operating expenses and makes it easier for boards to demonstrate compliance with financial reporting obligations.

Inframark works with banking partners familiar with this requirement and helps associations establish account structures that properly segregate funds. Our banking partners can support the specific account types Florida communities need, from operating and reserve accounts to capital improvement funds.

Reserve fund management is one of the most critical aspects of financial compliance for Florida community associations. Inframark works alongside boards to ensure reserve funds are properly funded, segregated in dedicated accounts, and reported in a manner consistent with Florida’s Chapter 720 requirements.

Our banking partners provide the account structures needed to maintain reserve funds separately from operating accounts. Inframark also supports boards in reviewing reserve fund studies and coordinating with appropriate financial and legal professionals when reserve fund levels need to be evaluated or adjusted.

Yes. Association board members retain access to their community’s financial accounts and records. Under Florida’s Chapter 720, association members also have the right to inspect financial records, which means board-level transparency is not just best practice but a legal expectation. Inframark manages day-to-day account administration while ensuring boards have full visibility into account activity.

Boards can request statements, review transaction histories, and raise questions about specific line items at any time. Our financial reporting is designed to give boards a complete picture of community finances without requiring them to carry the administrative burden of daily account oversight.

Yes. All financial institutions in our network are FDIC-insured, meaning deposits are protected up to applicable limits under federal guidelines. This is a baseline requirement for any banking partner we engage and applies to all accounts held on behalf of Florida associations and districts.
For Florida communities with reserve balances or operating funds that approach or exceed standard FDIC coverage thresholds, our team can work with boards and banking partners to structure accounts appropriately. Questions about coverage levels for specific communities are best addressed with your assigned financial manager.

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Let us bring our Quest for Excellence to your project.

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Have a question or need help with your community?
Our resident support team responds quickly and is ready to assist with anything you need.

Call Resident Support Current Resident Inquiries