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Escrow Account

Swim Meet Escrow Account Basic Information

  • Each family is required to have a Swim Meet Escrow Account for the 2020-2021 season.
  • The Swim Meet Escrow Account is an account for each swimmer that holds a deposit used only to pay for swim meet fees.
  • The Swim Meet Escrow Account requires an upfront individual deposit of $150.00
  • The money in the account will only be used to cover the costs of entering swimmers into meets for the 2020-2021 year

Why are we using an escrow account for this?

It is a fundamental philosophy of the team that performing in a competitive situation is one of the best ways to motivate and challenge the swimmers in a fun, positive manner. The coaches would like the meets to be a healthy part of each swimmer’s experience with Crimson and they use this opportunity to provide race-specific coaching in this unique environment.

Invoicing

The amount to be set aside in Swim Meet Escrow Account will be billed at the time of registration. Meet fees will be charged and deducted from the escrow account, which will need to be brought up to $150 each month. 

Commonly Asked Questions:

How much does it cost to enter a meet?

It varies from meet to meet; however, the regular specialty meets have a $10 meet entry fee, $1 NE travel fee and $5 per event fee. 
*COVID FEE: meets that have been hosted during the pandemic have an additional COVID surcharge charged by the meeet host. This additional fee covers the cost of running the meet in a safely manner.

How many meets does a Crimson swimmer enter per year?

It depends on the level of your swimmer; there are as many as 10-15 meets per year. 

What happens if we leave the team?  

If there is money remaining in the meet escrow account, it will be refunded when you leave the team.

What happens if the cost of the meets exceeds the dollar amount in the escrow account?

Meet fees in excess of the amount set aside in the escrow account will be billed on your monthly invoice, along with training fees, etc.

What happens to the account at the end of the year if all of the money in the account is not used; is it refunded or rolled over into the next year?

It will be rolled over into the next season.