An escrow account is a special types of bank account which are used to keep money safe during a deal between two parties. The money is held by a neutral third party (called an escrow agent) during a transaction between two people or businesses. The money stays in the account until both sides meet the conditions of their agreement.
This system helps protect both the buyer and the seller by making sure no one gets cheated. Escrow is commonly used in things like buying a house, business deals, or online purchases.
