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- A financial instrument held by a third party on behalf of the other two parties in a transaction. The funds are held by the escrow service until it receives the appropriate written or oral instructions-or until obligations have been fulfilled. Securities, funds, and other assets can be held in escrow.
The Office of the Comptroller of the Currency - Cite This Source - This Definition
- Account holder, Electronic banking, Foreign transaction fees, Joint account, Online banking, Point of sale (POS), Statement