Escrow Account service

Escrow Account service

Fibank offers an Escrow Account service to clients, who need Fibank Cyprus as a mediator for closing their deals. An escrow trust account is opened when purchasing and selling property, as well as when carrying out other transactions and providing services.

When acting as a mediator, Fibank Cyprus:

• Transfers money received from one of the contracting parties to a special trust account;
• Receives from the other party a document approved by both parties and examines it;
• Transfers the entire transaction amount from the escrow account provided that all the terms of the agreement related to the contents of the document and the terms of submission thereof are met.