Escrow account
This query is : Resolved
08 July 2016
WHAT IS ESCROW ACCOUNT & IS OBJECTIVE
Guest
Guest
(Expert)
09 July 2016
It is like a "Blocked & Separated Money" in a Bank account which will be used for specific purpose & after the purpose or transaction is completed,then that money will be freely used by the user.
This account helps third parties to clear their cheques against escrow account,the cheque will never bounce if it is against escrow account.
For more info : https://en.wikipedia.org/wiki/Escrow
This account helps third parties to clear their cheques against escrow account,the cheque will never bounce if it is against escrow account.
For more info : https://en.wikipedia.org/wiki/Escrow
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