Are Funds in Escrow Safe?
Funds are held at Trustshare's reputable Banks (in ring-fenced, insolvency protected accounts)
Projectmaterials never receives, dispose or comingles Buyer's Funds
The mission of the Bank of Lithuania is to bring benefits to society. As part of the Eurosystem, the Central Bank of Lithuania cooperates with the European Central Bank and other euro area central banks to make decisions on euro area monetary policy and its implementation.
Community Federal Savings Bank opened its doors in Woodhaven, New York (USA) on July 17, 2001. CFSB offers a full range of services, including loans, bill payments, card services, internet banking, and merchant processing.CFSB provides companies domestic and international payment solutions.
Barclays is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services.
Yes, we can operate the Escrow service via our partnership with Trustshare, a Fintech company who has obtained the licenses and authorizations needed to receive, hold, and transfer bank deposits in 184 countries.
For UK and non-EEA transactions, Trustshare operates its services via Trustshare Limited, a company registered in England & Wales with company number 12650826, with registered office is at 71-75 Shelton Street, London, Greater London, United Kingdom, WC2H 9JQ. Trustshare Limited is a registered eMoney provider as an EMD agent of Payrnet LTD – with FCA (UK’s Financial Conduct Authority) register number is 902866.
For EEA transactions (European Union), Trustshare operates via Trustshare UAB, a company registered in Lithuania with the registration code 305668309, having registered office at Zalgirio g. 90-100, LT-09303 Vilnius, Lithuania. Trustshare UAB is registered with the Bank of Lithuania as EMD agent with authorisation code LB001994.
No, Projectmaterials never receives customers funds on their accounts nor can manage such funds. Funds in Escrow are deposited at the Trustshare Partner’s banks named above (Central Bank of Lithuania, CFSB USA, and Barclay’s UK) in ring fenced and insolvency protected accounts.
Specific bank accounts are opened to serve specific contracts created on Projectmaterials. Funds are segregated from Trustshare and Projectmaterials’s and can only be used to fulfill the contracts they were opened for.
We can lawfully provide the Escrow service in 184 countries and counting. There is basically no geography out of scope.