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Escrow account

Escrow account for companies and entrepreneurs

  • special account in the client's name (specially earmarked funds in the account according to contractual adjustments) in EUR or foreign currency
  • intended for the financial settlement of a business transaction between business partners where the bank acts as a custodian of the funds until the fulfilment of the pre-contractually agreed terms and conditions of both partners
  • the first party (depositor of the funds) informs the bank of the fulfilment of the conditions and the funds are subsequently released and paid to the account of the other party.
  • the interest rate is the same as for a standard current account in EUR
  • other terms and conditions are agreed individually
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