Castler closes Pre-Series A funding of $6 Million led by Flipkart, Capital 2B, IIFL Fintech Fund, Venture Catalysts & Zerodha

How does a business determine which type of escrow account is best suited to its needs?

When a business decides to use an escrow service, it needs to consider the type of transaction it is involved in and the level of risk involved. For example, if the transaction involves a large sum of money or a high-value asset, the business may want to use a more secure and complex escrow account. On the other hand, if the transaction is relatively small and low-risk, a simpler and less expensive escrow account may be sufficient.

The Castler Digital Identifier system offers different types of escrow accounts to suit different business needs. For example, its basic escrow account is suitable for low-value transactions, while its advanced escrow account offers more security features and is better suited for high-value transactions.

To determine which type of escrow account is best suited to its needs, a business should consider factors such as the value of the transaction, the level of risk involved, and the complexity of the transaction. It may also be helpful to consult with an escrow service provider to get advice on the best type of account for the specific transaction.