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How to Open Escrow Agent Account

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Question: 
We have a customer that says his attorney is looking for him to open an escrow agent account at a bank. We do not have it currently but not sure what it is. Can you assist me?
Answer: 

This is not a type of account for which your bank should have preprinted forms to provide to the customer.

You need to ask the customer what the escrow relationship is for and whether there is a written escrow agreement.

First published on 12/16/2013

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