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Escrow Accounts
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PHGarland
Posts: 1 Newbie
I'm being asked to deposit monies into an ESCROW account, which although I understand is controlled by an independent third party. Can anyone tell me what would happen to the funds if the account was held by one of the banks which have recently collapsed taking all of their savers money with them? Assuming the FSCS programme does not cover them.
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Comments
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Be aware of fake escrow sites.
This is an eBay discussion forum:
http://forums.ebay.com/db2/forum.jspa?forumID=230 -
The eBay link is a little auction-centric as you'd expect. Here is another more general article on how to evaluate escrow sites that you might find useful.0
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