Escrow account

An account opened to the Customer, to which the Bank undertakes to accept and credit funds, and also to transfer these funds to the beneficiaries or return them to the Customer upon the occurrence of the terms specified in the agreement.

An escrow account opened in the Bank provides for a transaction to repurchase joint-stock company shares from the final beneficiaries.

In international practice, the real estate purchase by opening an escrow account at the Bank is the safest way to effect a deal: the buyer when placing funds in an account at the Bank, can be confident of their safety until all the operation conditions are fulfilled and the documents are signed, while the seller can make sure that the buyer’s funds are availible and the transaction is possible.

Bank, by acting as escrow agent,

is entitled to perform the following operations under the agreement:

Crediting of funds from the account holder to the escrow account

Transfer of funds to the beneficiary upon the occurrence circumstances specified in the agreement

Return of funds to the account holder in accordance with the agreement terms

Advantages of escrow account in RADABANK:

  • Opening an account: for non-residents is free of charge, for residents is 1 UAH;
  • Minimal financial risks: the account is managed by the Bank, acting in accordance with the terms of the agreement and the current legislation of Ukraine;
  • Extra guarantees: funds placed on the account cannot be used in expenditure transactions and are retained until the moment of obligations fulfillment;
  • Termination of the escrow account agreement is possible only with the consent of both parties: the account holder and the beneficiary;
  • The funds in escrow accounts cannot be enforced or arrested for either the Bank obligations or the obligations of one of the parties to the agreement.
Tariffs provided to legal entities (except banks), non-resident investors, and individual business entities. Tariff package “Escrow”
Escrow account agreement

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