Escrow account

Buying and selling the secure way

An escrow account diminishes risks in real estate, cars, shares, and other property purchase or sale transactions - for companies and private individuals alike.

Trilateral agreement between seller, bank and buyer.
An opportunity to agree on all terms necessary for a secure contract, including document deliveries, terms and methods of payments.

Fill out the Escrow Account Agreement preparation application via Internet Banking or at any branch.
The bank opens escrow account.
The buyer transfers the amount of transaction to the escrow account.
The seller does the necessary paperwork and delivers the documents to the bank.
The bank checks the documents delivered. If the documents meet the requirements of the agreement, then the bank effects the transaction - the seller receives the money and the buyer receives the original documents.

Product/Service	Price, EUR
Applying
Opening account	Easy via Internet Banking	Account opening, including agreement preparation.
- on standard terms of agreement	Min. 100 Standard turnaround - 0,4% of the amount, min. 100,00 On urgent basis - 0,6% of the amount, min. 200,00
- on non-standard terms of agreement	Agreed on case-by-case basis, min. 200,00 Standard turnaround - min. 200,00 On urgent basis - min. 500,00
Setting up escrow account additionally in a foreign language	Agreed on case-by-case basis, min. 100,00 On standard terms of agreement - 100,00 On non-standard terms of agreement - agreed on case-by-case basis, min. 100,00	English or Russian.
Verification of documents issued outside Latvia (ID, passport, business supporting documents, etc.)	300,00 The fee is collected in advance and may be increased in some cases
Checking of powers of attorney issued by other institutions	See Current account
Using
Servicing account	0,00 - 150,00 Standard turnaround - 0,00 On urgent basis - 150,00	Documentation verification and payment execution. Standard turnaround - within 3 business day. On urgent basis - within 24 hours. for payments in foreign currency and/or other bank outside EEA, a fee will be charged see Payments in foreign currency.
Changes
- in terms of the escrow account agreement	50,00
- in non-standard terms of the escrow account agreement	Agreed on case-by-case basis, min 70,00
Informing customers	Free of charge	Information on escrow account balance and transactions.
Closing
Closing account	Free of charge