Maximise Trust & Transparency at Every Stage of Your Transaction With TrustIn

An escrow is an account where funds are held in trust whilst two or more parties complete a transaction. This means a trusted third party such as TrustIn will secure the funds in a trust account.

It is an escrow account powered by TrustIn through their digital platform replacing traditional banking manual process. Trustin is a secure online platform that holds funds, assets, or documents for parties involved in a transaction. It acts as a trusted intermediary, ensuring that both parties fulfil their obligations before the funds or assets are released. The digital escrow account could be created instantly with an IBAN number which makes it easier for you to deposit funds.

As platform, Trustin provides escrow account seamlessly which helps in bridging trust issues between buyers and sellers. TrustIn escrow platform safeguards the rights of all the parties including buyer, seller and broker as the funds are held in a neutral bank account and routed based on pre-defined conditions.

TrustIn Platform is powered by Emirates NBD and is incorporated (registration number 000008461) under the laws of the Abu Dhabi Global Market (ADGM). We are licensed and regulated by the Financial Services Regulatory Authority (FSRA) for Providing Money Services under Category 3C Financial Services Permission number 240003.

To open an escrow account, first you need to sign up as buyer/seller and complete your eKYC/KYB.
i. The following documents are required for the KYB (Know Your Business) process:
1. Certificate of Incorporation/Valid Trade License/Company Registration details of the entity
2. Memorandum of Association/Articles of Association of the entity
3. Valid ID (Emirates ID or Passport) copies of the partners/owners (Holding more than 25%)
4. Letter of Authorization and ID (Emirates ID or Passport) copy of representative if he initiates on behalf of the entity
5. Authorization is required if a minor shareholder (holding less than 25%) initiates on behalf of the entity
6. In addition to the above, the platform may request additional documents for compliance requirements. ii. The documents required for Individual Customers for KYC includes:
1. Your Emirates ID/Passport
2. Your proof of address

As of now, there is no limit on the amount.

You can use either of the following methods to deposit funds into your escrow account:
i. Deposit fund into your IBAN escrow account directly doing bank transfer method.
ii. Deposit fund into your IBAN escrow account using UAEPGS.
iii. Deposit fund into your IBAN escrow account using other PA/PG solution.

Money is held safely in one of the largest Central Bank of UAE Regulated Banks. Money transferred for an Escrow transaction safely held under name of the buyer in Client Money Account. It is a tri-party account, where the buyer is the primary account holder, seller is the secondary account holder and our partner bank will be the third party. TrustIn will act as an escrow facilitator in this setup.

An escrow agreement is a legally binding contract or arrangement that outlines the terms, conditions, and responsibilities of the parties involved in an escrow arrangement. This agreement defines how assets or funds will be held by a neutral third party (the escrow agent) and the conditions that need to be fulfilled in order for the funds to be released to the designated parties.

You can not cancel escrow agreement after the funds are added, however you can raise a dispute.

"Escrow as a service" refers to the services provided by a neutral third-party that legally oversees the escrow process, holds funds, assets, or other important documents on behalf of two parties involved in a transaction until specific conditions or obligations mentioned in the financial agreement are met. This minimizes the risk for both parties and helps ensure trust and security in the transaction for everyone involved.