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Business Account

Business Account

  • Buyer, seller and bank signs trilateral trade contract
  • Bank only transfers money after receiving documents confirming the fulfilment of the transaction

In order to reduce the risk between counterparties, you can open a specific Business Account for performing buying and selling transactions. Bank will reserve the amount of money paid by the purchaser into the Business Account and will only pay it to the seller after receiving documents confirming the performed transaction.

  • Account provides safety for both the buyer and the seller, because the bank only transfers money after the transaction has taken place in fact and ownership documents have been drawn up
  • During the contract term buyer or seller cannot withdraw the money paid into the Business Account alone:
    • If, during the contract term, the deal has not been concluded (the documentation confirming its fulfilment has not been submitted to SEB bank), then after the expiration date, the money is returned to the buyer
    • If, during the contract term, the seller has submitted documents confirming the fulfilment of the transaction to SEB bank, then, after the expiration date, the buyer cannot withdraw money from the Business Account on his own
  • It is possible to pay both non-cash and cash into the Business Account in EUR currency or other convertible foreign currency

How is purchase/sale deal performed using Business account?

  • Bank opens Business Account and buyer transfers agreed amount of deal
  • Seller arranges and submits all the necessary documents to the bank
  • Bank informs buyer that the seller has submitted documents to the bank and introduces them to the buyer
  • If documents are in order, the deal finalizes – bank transfers money to the seller and turns over property documents to buyer
Services Fees
Fee for the service in standard cases:
   •  opening of an escrow account, upon granting of SEB bank's Home loan 0,4%, min 45.00 EUR, max 400.00 EUR
   •  opening of an escrow account 0,4%, min 100.00 EUR
Fee for the service in non-standard cases By agreement
Re-entering the agreement or changing the terms of agreement By agreement, min 35.00 EUR
S|E|B

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