Sber has introduced a service through which an escrow account is opened remotely when a legal entity purchases real estate. To take advantage of this opportunity, legal entities need only be Sber clients and have activated the SberBusiness online banking solution.

In order to open an escrow account remotely, developers will need to create a contract and sign it electronically, and legal entities and property buyers will need to verify the terms of the contract and sign it. All transactions are carried out through SberBusiness online banking. After the escrow account is opened, information about the account and the ability to top it up will be available to the client in their profile.

Yevgeny Kravchenko, director of Trade Finance, Sberbank:

"Sber is the country's biggest largest escrow agent. As of today, the bank has opened over 450,000 escrow accounts for residential real estate transactions with a value of over RUB 1.3 tn. We are constantly growing and improving the service for our clients, who are developers and property buyers. Residential and other property buyers are often legal entities. That is why we have expanded the service to include opening accounts remotely. This can now be done via in SberBusiness online banking."

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Sberbank of Russia published this content on 20 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2021 09:10:02 UTC.