Escrow by Wire – What You’ll Need

There are many options for funding online escrow accounts, including checks and credit cards, but the quickest and most secure way to fund any online escrow account is via bank wire. The tips below will help you prepare all the items you’ll need to ensure that your wired funds process quickly and correctly – avoiding the chance and expense of rejected transfers.

Destination Bank Info
Any legitimate online escrow company will be able to provide you all the information that you or your bank of choice will need to construct a proper wire transfer. This includes:

  • Funding amount
  • ABA routing number
  • SWIFT code (international transfers only)
  • Bank name
  • Bank address
  • Beneficiary account number
  • Beneficiary account name
  • Beneficiary address

Your Banking Info
Whether you’re sending or receiving you’ll need much of the same information above, but if you’re providing information TO the escrow company in order to receive funds, there are two items which you’ll need to double or triple check to ensure correctness. Those two items are your bank’s account and routing numbers. If you’re unsure of those numbers offhand, consult the image below to see where you can find both numbers on your check.

Bank_Check

 

Inputting all account information correctly in the first place can save you a great deal of time and reissuance funds. When in doubt, call your escrow company and double check with them as to all the information required to send or receive funds. Your financial institution of choice can also be a great resource if you run into trouble constructing a wire on your own with online banking.

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