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Escrow Accounts

When two parties are engaged in a financial transaction, to secure the interests of both the parties, the funds are held in an account with a trusted third party. This account is called as an Escrow account and the trusted third party is called as Escrow agent.


At IDFC FIRST Bank, we act as the Escrow agent for both, individuals, and businesses. You can enjoy the benefit of digitally signing Escrow agreements when you choose us. Not just that, you can use our legally vetted standard Escrow drafts and reach out to our expert Escrow team to manage operations.

Digitally sign Escrow
agreements

Legally vetted standard
Escrow drafts

Expert Escrow team to
manage operations

Why prefer IDFC FIRST Bank for your Escrow transactions?

Escrow Agent/Account Bank

IDFC FIRST Bank

Primary party

The Party which holds the title or possession of the underlying funds/other assets

The Party which deposits funds/other assets into the Escrow account

Other party

Majorly the beneficiary of the funds/ assets lying in the Escrow account

Parties engaged in the Escrow deal, execute an Escrow agreement along with Escrow agent incorporating all the


terms and conditions applicable for the said transaction/deal.

How to open an
Escrow Account?

Please reach out to your nearest branch or Relationship Manager for more details. The branch/ Relationship Manager will assist you by understanding your business needs and will help in getting the Escrow agreement ready for execution between transacting parties & the bank. Once the agreement is executed, your account can be opened with ease.

Features

Easily sign Escrow agreements digitally

Legally vetted standard Escrow drafts

Expert Escrow team to manage operations

Security of funds and transactions to both parties involved

Minimising or elimination of fraud in high value transaction deals

Tracking movement of money by all parties involved

FAQs

What is an Escrow Account?

Any business transaction between two or more parties requiring secured fund settlement as pre-agreed under an agreement can be managed through the Escrow account. IDFC FIRST Bank acts as an Escrow Agent to ensure transactions are executed as per the underlying executed Escrow agreement.

What are the benefits of opening an Escrow Account with IDFC FIRST Bank?
Can net banking access be provided to you for Escrow accounts?
Can you avail API services in your Escrow Account for payments and collections?

API services can be availed for payments and collections, subject to the Escrow deal type and requirement with adherence to banking compliance and regulations.

More FAQs
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