Niche solutions – Escrow account

Escrow accounts, along with other special accounts, provide confidence and safety to partners conducting business transactions.

Wide range of special functionality accounts: collateral deposits, escrow accounts, guarantee accounts, etc.
Safety in conducting business transactions with business partners
No charge for transfer transactions between customer current accounts and special functionality accounts

Choose the right solution from the wide range of special functionality accounts:

Collateral accounts – to guarantee bank commitments
Manager guarantee record accounts
Guarantee accounts: performance bond, material bond, tender guarantee, etc.
ESCROW accounts

ESCROW account is used:

to deposit, keep or block certain amounts of money until the conclusion of a contract
to deliver goods and/or meet certain requirements in a written agreement signed by two parties (as a guarantee of using the amounts only for the intended purpose and/or as a measure ensuring the fulfilment of objectives stipulated in the said written agreement)

Are the amounts deposited in special functionality accounts guaranteed?

The amounts deposited in special functionality accounts are guaranteed by the Deposit Guarantee Fund for Banking Institutions – according to the law in force.

Are special functionality accounts subject to garnishment?

Special functionality accounts are not subject to garnishment, as per the provisions in the contract/agreement signed with the bank.

Commissions and tariffs