ABA Bank Offering Reliable Escrow Service for Buyers and Sellers
02/Mar/2023
ABA Bank proudly announces it received a Trustee Operator license from Trust Regulator to provide Retention or Escrow Services on 15 February 2023.
Both individuals and legal entities are now eligible to use ABA Bank's Escrow Service for various transactions, such as those related to the sale and purchase of the real estate, shares, and any commercial transaction that complies with Cambodian law.
The Escrow Service is a reliable and secure method of exchanging money or goods between buyers and sellers. It holds the buyer's payment on a special bank account until the seller delivers the service or item. After the buyer and seller confirm the transaction is complete, the payment is released from the escrow account to the seller's bank account. Hence, both parties of the transaction receive financial protection from ABA Bank, the largest Cambodian commercial bank in Cambodia by total assets, gross loans, customer deposits and profitability based on the National Bank of Cambodia’s Annual Supervision Report 2021.
Individuals need to be at least 18 years old and must maintain a savings or current account with ABA Bank to use the Escrow Service. Meanwhile, corporate entities must be officially registered and hold an account with ABA Bank. The list of documents required for using this service varies depending on the customer type.
For more information on how to use Escrow Service from ABA Bank, call our toll-free number 1 800 203 203 (inside Cambodia) or email us at info@ababank.com
