I want to know how I can get an escrow account for my small business. What qualifications must I meet and what documentation do I need, etc.?
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A lot depends on the purpose of the escrow. It is assumed you are not an attorney or a real estate agent, since escrow procedures for those two types of businesses are well-established and well-known by people providing those services.
You should contact your bank to find out what its requirements are. Be ready to provide a sample of any contract you use to set up escrows for your clientèle, and a description of the purpose of the escrow. The bank might want to check references and your license, if any, to operate the business.
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A lot depends on the purpose of the escrow. It is assumed you are not an attorney or a real estate agent, since escrow procedures for those two types of businesses are well-established and well-known by people providing those services.