Pricing
One escrow fee, tied to the size of the deal.
FairBank Escrow charges a single fee for holding a deal in escrow. It is a percentage of the deal value, and the percentage falls as the value rises. There are no monthly fees, no account fees, and nothing to pay just to submit. You see your estimate on the form as you type an amount.
| Deal value | Escrow fee |
|---|---|
| Under $1,000 | 1.50% |
| $1,000 to $10,000 | 1.00% |
| $10,000 to $100,000 | 0.75% |
| Above $100,000 | Contact us for a quote |
How the fee is calculated
The fee is worked out from the dollar value of the deal, using the tiers in the table. A deal under one thousand dollars is charged one point five percent; from one thousand to ten thousand it is one point zero percent; from ten thousand to one hundred thousand it is zero point seven five percent. Above one hundred thousand dollars, we quote the fee to fit the deal, so the table shows contact us rather than a set number.
When it is worked out
Nothing is charged when you first submit. The fee is calculated and fixed to the deal only once both parties have submitted and the deal is linked, so it is set against a value both sides have agreed to. If the two parties enter different values, a reviewer reconciles it before the fee stands.
Who pays it
The fee is a single charge on the deal, not one charge per party. By default it comes out of the funds held in escrow at release, so the buyer and seller settle it as part of the deal rather than paying FairBank Escrow separately. Who bears it in the end is up to the two parties; put it in your terms if you want it split a particular way.
What the fee covers
The fee covers holding the funds apart from the deal, matching the two submissions, tracking the deal through every status, a reviewer checking the release before funds move, and handling a dispute if one is raised. A real person is accountable for each of those steps.
For a value above one hundred thousand dollars, or a question about the fee on a specific deal, reach the desk on the contact page.
Submit a deal