Escrow account

Escrow Account service

Norvik Banka offers an Escrow Account service to clients, who need the Bank as a mediator for closing their deals. An escrow trust account is opened when purchasing and selling property, as well as when carrying out other transactions and providing services.

When acting as a mediator, Norvik Banka:

  • transfers money received from one of the contracting parties to a special trust account;
  • receives from the other party a document approved by both parties and examines it;
  • transfers the entire transaction amount from the escrow account provided that all the terms of the agreement related to the contents of the document and the terms of submission thereof are met.

file_pdfApplication to open an escrow account.

Norvik Banka is a member of Deposit Guarantee Fund ngf, which means that your deposits placed in Norvik Banka are guaranteed by the state. More information on deposit guarantee system you can find here.