A holding account is a financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a given transaction. It helps make transactions more secure by keeping the payment in a secure holding account which is only released when all of the terms of an agreement are met as overseen by the holding account company.
Holding accounts are very useful in the case of a transaction where a large amount of money is involved and a certain number of obligations need to be fulfilled before a payment is released like in the case of a website being built where the buyer might want confirmation of the quality of work being done before making a full payment, and the seller doesn’t want to extend a massive amount of work without any assurance that he or she will receive payment.
While traditional holding account service is quite difficult and must be obtained through banks and lawyers, Solutions Holding Company provides online holding account services at affordable rates. While the payment is ‘In holding account’ the transaction can be safely carried out without risk of losing money or merchandise due to fraud. This eliminates all legal jargon and allows for secure transactions and confident buyers and sellers.