How do I open an escrow account, and wouldn't the payee and the escrow agent have legal recourse to go through with the transaction as well? More details please
I'm going to copy paste some info about them for you, they are relatively straightforward.
An escrow account is an account where funds are held in trust whilst two or more parties complete a transaction. This means a trusted third party will secure the funds in a trust account. The funds will be disbursed to the merchant after they have fulfilled the escrow agreement. If the merchant fails to deliver their obligation, then the funds are returned to the buyer.
It is essentially a middleman that you, the person depositing the money, sets up.
They cannot 'decide' to release the payment without your approval.
How do I open an escrow account, and wouldn't the payee and the escrow agent have legal recourse to go through with the transaction as well? More details please
I'm going to copy paste some info about them for you, they are relatively straightforward.
It is essentially a middleman that you, the person depositing the money, sets up.
They cannot 'decide' to release the payment without your approval.
Most banks will allow you to set them up.