Suggestions for escrow accounts?

[Ice Cold Beverage]

Hey YSCC members, just wondering if anyone can point me in the right direction for a good/free/cheap escrow account holder?
I think with cash leagues there are always issues of 'trust' and this has come up again in a couple of cash leagues.. Thinking of opening an escrow account where by at seasons end the money gets auto released into the winners account..
Any suggestions out there in the SC land?

 

[keffa]

Hey YSCC members, just wondering if anyone can point me in the right direction for a good/free/cheap escrow account holder?
I think with cash leagues there are always issues of 'trust' and this has come up again in a couple of cash leagues.. Thinking of opening an escrow account where by at seasons end the money gets auto released into the winners account..
Any suggestions out there in the SC land?

No idea at all mate.... The only way I've seen it done is that one person holds the money and releases it at years end. Obviously that person needs to be trustworthy. It could easily go awry, and whilst I've never personally heard of any problems, you would imagine things could go tits up occasionally.

I found this on google very quickly https://www.escrow.com/ but have NFI about its validity.

 

[Lethal]

Safest bet would be a trust account but that would involve a solicitor / accountant....expensive.

Another option could be a community club bank account (e.g. Bendigo bank) which has low fees and requires multiple signatories to make a payment out. Still a bit of trust involved in this though...