What is an escrow bank account?

An escrow bank account is one where money is received and distributed subject to the terms of an escrow agreement.

How it works

As an independent and trusted third party, FNTC can set up and manage escrow accounts. Funds are deposited into the account and held until the terms of the escrow agreement are satisfied. Once satisfied that the terms of the agreement have been met, FNTC distributes the funds accordingly.

Benefits include:

• Protection against fraud by providing high levels of security to consumers, developers, sales and management companies and other third parties
• Ensures written agreements are in place before funds are distributed
• Reliable and prompt distribution of funds
• Lends credibility to any sales process
• Increases consumer confidence

For more information on FNTC’s escrow services please e-mail info@fntc.com or phone +44 (0) 207 224 3533.