German banks have specific terms and conditions for escrow accounts. These accounts are insolvency-proof and dedicated solely to foreign funds, completely separate from personal assets and income.
Handling of deposit and processing of the balance
In addition to the deposit, it is also possible to process the balance through the escrow account.
Orders credited on the same day
All payment orders can be credited to the recipient's account on the same day, regardless of its location, provided that the Release Instruction is received no later than 13:30 (CET).
Continuous updates
Parties involved will receive continuous updates regarding account movements on the escrow account. Upon completion of the transaction, the parties will also receive a final settlement (if requested).
Capping of bank charges
By capping the bank charges, it can be advantageous for parties to settle larger amounts, including the deposit and balance, through the escrow account.
KYC and AML
You will receive a list of documentation required for the KYC and AML examinations. All information provided will be treated with the utmost confidentiality.
