One main account can be linked to one or more Escrow account; fees are debited from the main account
With Escrow account, you can manage your clients’ money easily, transparently and safely. The account can be administered from your home via Direct Banking.
Since the Escrow account is always linked to the main account, you can keep funds held in escrow and your business activities separate. You will receive separate account statements for your Escrow account, which makes records even more transparent.
As regards funds deposited in the Escrow account, they remain the property of the third party that put them in escrow based on an agreement between the account owner (notary / attorney / distraint officer) and the third party.
The Escrow account is also subject to a special legal regime: the bank is not entitled to debit its claims, if any, from it; the deposited funds are not subject to distraint and inheritance and cannot be used to secure liabilities.
General Business Terms and Conditions
Product Terms and Conditions
The title to any interest income from the Escrow account is governed by an agreement between the account owner and the actual owner of the funds in the Escrow account.