Before you can open your Escrow account, your company must have passed the first Kyb verification step
What is the function of the Escrow account in Marvinet.
Opening an escrow account through our partner, United, allows your company to be able to leverage Marvinet to perform secure platform transactions, benefiting from our transportation, logistics and goods verification services in addition to the security of the Escrow account for transaction execution.
Opening an Escrow account is a simple and guided procedure, but it requires Marvinet and our escrow partners to perform some tax and biographical checks that can take up to 7 business days to complete.
The good news is that once you open your escrow account, you can use it right away to perform your secure platform transactions.
How to open your Escrow account
Once you have completed the initial Kyb verification process for your company, you will see a message appear within your dashboard alerting you to the possibility of opening the Escrow account for your company.
You can access the escrow account opening by pressing the “Open your escrow account” button or by clicking on your wallet icon in the topbar and then clicking on “See my wallet”
Choosing your initial package
The first time you access your Wallet section, you will be presented with a page summarizing the economic conditions for performing secure transactions in the platform.
From this page, you will be able to choose which of three initial packages to choose for opening your wallet
Prices and availability of packages may change over time.
The first wallet top-up includes a top-up for our escrow partners to perform checks on your business.
From your second wallet top-up you can freely choose the amounts to top-up, based on your use of our platform.
Once you have selected the desired package, a payment screen will open for you.
You will notice a summary of your order. The VAT rate is automatically calculated by the Marvinet system based on your company’s tax information, which you will have provided during registration.
Pay securely with Credit Card and Stripe
The top-up payment for the wallet is processed through the Stripe payment gateway.
We do not currently accept payment by bank transfer regarding wallet top-ups
After the payment is processed, you will see a message confirming the recharge.
Complete the Escrow onboarding form
The last step in opening your escrow account is to submit the form with the required tax information about your company, its beneficial owners, UBOs and shareholders.
The execution of document verification is carried out by the Marvinet team and our escrow partners.
We try to process all requests received as quickly as possible, but keep in mind that it may take up to 7 business days to process your activation request.
