What is an Escrow Account? Secure Payments Made Simple

Wondering what is an escrow account and how it works? An escrow account is a financial arrangement where a trusted third party holds funds or assets on behalf of two parties until agreed conditions are met. This ensures secure and transparent transactions, protecting both buyers and sellers from risk. Commonly used in real estate, online transactions, and large business deals, escrow accounts help prevent fraud and disputes. By releasing money only when all terms are satisfied, they build trust between parties. If you want to understand what is an escrow account, it’s essentially a safeguard for safe and reliable payments. Visit- https://open.money/blog/escrow-account-explained-types-uses-how-it-works/