[header] How to set up an escrow account [title] Identify your need for an escrow account. [step] An escrow account holds money, much like a bank account, except the money is held with an escrow company. The escrow company will only release the money once certain conditions are met. 
[substeps] Escrow accounts are most commonly used in real estate transactions. When the conditions for the sale are satisfied, the escrow agent will release the money to the seller.