a system and method of managing bank accounts . a bank receives , electronically , from a customer , instructions to open , to update , to debit / credit , and to close bank accounts , such as escrow accounts associated with real estate transactions . information in the instructions is used to automatically populate a bank &# 39 ; s account management system . new accounts are thereafter automatically established and open accounts are automatically updated and closed consistent with the information in the instructions . new accounts are preferably funded from an operating account belonging to the customer , and checks are caused to be cut in an amount due to a client of the customer , if they so choose .