Now, through the MAVRID application, it is possible to open and maintain an escrow account in the process of buying and selling property completely online, safely and reliably.
What is escrow and why is it important?
Escrow is considered a reliable mechanism for settlements between the buyer and the seller. In this case, the funds are stored in a specially protected bank account and are transferred to the seller only after the transaction has been notarized. This ensures the protection of the interests of both parties.
Thanks to the new service introduced in the MAVRID app, the process of opening and using an escrow account has been fully digitized.
Now, customers can open and manage an escrow account remotely without visiting bank branches.
The main advantages of the online escrow service:
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Reducing paperwork and wasting unnecessary time;
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The buyer's funds are fully protected under the control of the bank;
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The Seller ensures that payment is guaranteed;
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The entire process is carried out transparently.
Online Escrow service - the interests of buyers and sellers are equally protected!
Bank Information Service
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