Who holds the escrow funds?
Updated
Short answer
Escrow funds are held with CBN-licensed partner banks. Inside Payluk, escrowed money is kept separate from spendable balances, so neither party can use it until the escrow is released, refunded or split. For due-diligence questions about our banking partners or compliance documents, contact [email protected].
How your money is protected
- Funds are held with CBN-licensed partner banks.
- Escrowed amounts are ring-fenced from spendable balances in our ledger.
- Money only moves according to the escrow’s rules: confirmation, an expired claim window or a dispute resolution.
- Accounts are protected by two-factor authentication, transaction PINs and monitoring.
Due diligence
Businesses that need details about our banking partners, licensing or compliance documents can contact [email protected].