Special account (Escrow account)

The account is used for servicing a concrete transaction in case fulfillment of some predefined conditions, after which the funds on the account can be utilized.

Benefits:

  • Opportunity to predefine conditions, upon the satisfaction of which the funds on the account can be utilized
  • Utilization  of the funds is done after presenting predefined documents that provided for the fulfillment of the conditions regarding the account
  • The bank, as an independent arbitrator, reviews the documents presented and sees to the strict abiding to the predetermined conditions for utilization of the funds on the account, thus guaranteeing the interest of the parties in the deal.

Currency: BGN, EUR, USD

Opening: In bank offices, after presenting the agreement on the conditions that have to be provided for through the account.

Documents required at registration: New clients of the bank have to present documents required for opening a current account.

Interest Accrual: This account does not bear interest.

Documents