The answer is, “yes,” but there are some additional conditions. First, there is no problem with a lawyer who is practicing in another state—but is also licensed in Pennsylvania—to have a bank account in a bank that’s in another state. Under Rule of Professional Conduct 1.15 and Pennsylvania Rules of Disciplinary Enforcement 221, there is no requirement that a Pennsylvania lawyer representing Pennsylvania clients have their bank account in Pennsylvania. Some states do require that, but not Pennsylvania.
But there are some conditions. First, if one is using a bank in another state, that bank has to be certified or registered in Pennsylvania as a bank that is acceptable for IOLTA purposes. That’s the same requirement for any bank having IOLTA accounts in Pennsylvania. A bank has to be approved by the IOLTA Board. Most of the banks are. But there are some banks in other states that aren’t.
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