Escrow account

This service is intended for clients who need the bank as an intermediary for transactions. Most often, an escrow account is opened in case of purchase and sale of real property, but it is also possible to use this service when carrying out other transactions or providing services.

Advantages

A security guarantee for both the buyer and the seller, as the bank pays out the money only after the deal has taken place and the property documents have been finalised
The seller or the buyer may not single-handedly withdraw the amount of money deposited in the escrow account while the agreement is in force

Intermediation services of the bank

The bank transfers the money received from one of the parties to the transaction to a special escrow account
The bank receives a specific document from the other party to the transaction and examines it
The bank pays out the money from the escrow account only provided that all the provisions of the agreement related to the contents of the document and the provisions of submission thereof have been met

Steps to work with an escrow account

Agree with your partner

Sign the agreement providing for payment using an escrow account

Submit the application

Fill in the Application to open an escrow account and submit it together with the required documents to the bank

Enter into the agreement

Enter into the agreement on servicing the escrow account with the bank

Payment for the transaction is made

PNB Banka receives the documents set forth in the agreement and makes the payment

Advantages

Intermediation services of the bank

Steps to work with an escrow account

Agree with your partner

Submit the application

Enter into the agreement

Payment for the transaction is made

Pricelist

+371 67041100

Escrow account

Advantages

Intermediation services of the bank

Steps to work with an escrow account

Agree with your partner

Submit the application

Enter into the agreement

Payment for the transaction is made

Pricelist

+371 67041100

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