Escrow accounts

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Escrow accounts

When to use the escrow accounts:

If you are going to buy or sell property/product, provide services or implement works and want to minimize the transaction risks, Acba bank offers you to make your transactions with escrow accounts.
Escrow account is a special bank account, where the funds, subject to payment as a transaction guarantee for sale and purchase, acquisition of goods, service provision and/or work implementation are deposited to.

Product's business card

Application form

Steps to follow to proceed transaction

Advantages

Provision terms

The advantages of the transactions with escrow accounts for the Buyer

The Seller can receive the funds entered to the special bank account by the Buyer only after presenting the relevant documents,
The Buyer is insured from fraud and from the risk of paying for submitted false documents,
The amount of funds submitted to the escrow account will be returned to the Buyer in case of non-performance of agreement responsibilities by the Seller.

The advantages of the transactions with escrow accounts for the Seller

The Seller is insured from the risk of non-payment or partial payment by the Buyer,
The Seller is insured from fraud, from receiving false banknotes by the Buyer,
The risks in trade transactions are minimized

The main terms of opening of escrow accounts:

The Bank opens escrow accounts for RA resident and non-resident individuals, legal entities, persons with no status of a legal entitiy and private entrepreneurs,
Currency - AMD or other currencies acceptable for the Bank.

There is no minimal initial amount limit.

In case of any discrepancies in the information contained in the Site, as well as inaccurate texts in a foreign language, please be guided by the Armenian version. 13.02.2023 11:06

Acba bank is supervised by the CBA.

82-84 Aram Street, Yerevan, Armenia

+37410318888

E-mail: acba@acba.am

Financial system mediator