An escrow is a financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a given transaction. It helps make transactions more secure by keeping the payment in an escrow account. The amount is only released when all the terms of an agreement are met as overseen by the escrow company.
Escrows are very useful in the case of a transaction where a large amount of money is involved, and a certain number of obligations need to be fulfilled before a payment is released.

Escrow account services involve an arrangement where a third party (Castler) plays the part of a trust-enabler in a transaction between two parties. While traditional escrow service is quite expensive and involves a tedious on-boarding process.

Castler provides digital escrow services conveniently and at affordable rates.

While the payment is ‘In Escrow’ the transaction can be safely carried out without the risk of losing money due to fraud. This eliminates all legal jargon, allows for secure transactions and instills confidence in transacting parties .

Funds are deposited in Castler Digital Escrow Account powered by YES bank

Funds are released only after approval of both the transacting parties and according to the mutually agreed terms

Funds are in custody of Trusteeship company which is a legal entity that manages funds on behalf of a beneficiary for their benefit.

A trustee company is a legal entity that manages and invests funds on behalf of a beneficiary for their benefit. A trustee is an individual or company performing a fiduciary duty of managing a trust. When you are trusting someone with your assets you create a “Trust”. The overseer of those assets is the trustee. Trustees administer assets or property for the benefits of another.

Digital Escrow Account with Castler are essentially created within a minute

Processing time for payments via Castler Escrow follows the T+1 model, wherein payments are processed on the next business day from the date of transaction.