• Mon. Jan 30th, 2023

4 reasons why you should have an Escrow account

Jan 17, 2023

Almost everyone will require the assistance of an escrow account at some point in their lives. Having an escrow account is a safe bet for every significant purchase we are bound to make. An escrow account is a legal arrangement in which a third party temporarily holds money or property until a certain condition is met. An escrow account protects both the seller and the buyer. It all comes down to successful risk management, the simplicity of complex transactions, and the convenience of cash and securities safekeeping. Aligned with this, firms like Escrowpay are here to make your large transactions run more smoothly and easily with their various features –

Financial Services – Escroway offers your company a customised financial solution, utilising virtual bank accounts to simplify collection management. Escrowpay handles mergers and acquisitions, unlisted shares and stocks, debt settlements, and other transactions, making it easier for any organisation.

Franchise – Your escrow account also manages financial transactions such as franchise fees, royalties, invoice discounting, and POS collection.

Platforms and Marketplaces – Escrowpay also assists logistic enterprises, Edutech and technology firms, real estate firms, and developing businesses in using their escrow payment methods to decrease risk, assuring hassle-free, quick, and safe business transactions for startups and assisting in their seamless growth.

Gaming Platforms – Escrowpay helps gaming platforms manage their GST, Tax Shield, Cash flows, and improved cyber cell management, in addition to the services supplied to platforms, marketplaces, and startups.

Finally, with many small and medium-sized businesses experiencing regular cash crunches, escrow bank accounts for receivables purchase and invoice discounting are gaining traction, and with the widespread adoption of the digital medium, an escrow bank account allows for simplified documentation and online tracking.