Is it safe to wire a large deposit to a notary or lawyer?

Many buyers abroad are asked to send a large sum, a deposit or the whole balance, to the account of a notary, a lawyer or an escrow agent. That is often the safest route. But it is also the moment fraudsters target, because the amount is large and the buyer is under time pressure.

What buyers fear

Two things. First, that the professional holding the money might lose it or misuse it. Second, and more commonly in practice, that the buyer sends the money to the wrong account: an email from the lawyer or the seller gives new bank details, and the money goes to a criminal. Both fears are legitimate, and the second is far more frequent than the first.

What the risk really is

The structural risk is that a bank transfer is hard to reverse. Business email compromise works like this: a fraudster gains access to an email account (the lawyer's, the agent's or the seller's), reads the correspondence, and at the right moment sends an invoice or a message changing the IBAN. The text, the logo and the timing look genuine because they come from the real conversation. A fake invoice can also come from a spoofed address that differs by one letter.

The second layer is the receiving account itself. Money held for clients by a regulated professional is in principle separated from the firm's own funds and covered by professional rules, insurance and in some systems a compensation fund. Money sent to the wrong account is covered by nothing except your bank's willingness and ability to recall it, which is slim.

Who bears the loss varies by country and by bank and is often decided case by case. Do not assume the bank will refund a transfer that you authorised yourself.

How it works by country

Spain. Notaries are public officials and are required by law to hold professional liability insurance, according to the sources we found. Spanish lawyers are not required by law to carry professional insurance in the sources we saw, although their code of conduct requires adequate coverage. The practical point: do not assume the notary will hold the purchase money. In many cases payment is made between the parties by transfer or by banker's draft at signing, so ask the notary and the lawyer in advance exactly how the price will be paid.

Portugal. Lawyers are regulated by the Ordem dos Advogados and operate client accounts, but we did not verify the details of the rules, and in a purchase the price is normally paid at or around the deed. The same general protocol applies: ask for the account in the lawyer's or firm's name in writing, and verify it by phone.

Cyprus. Lawyers are supervised by the Cyprus Bar Association, including for anti-money-laundering duties. We could not verify the specific client-account rules. Ask the lawyer whether funds go into a dedicated client account, what bank it is with and what insurance the firm carries.

UK and Ireland. Solicitors in England and Wales hold client money under the SRA Accounts Rules, backed by compulsory professional insurance and a Compensation Fund where no insurance responds: see the SRA accounts rules. The Law Society of Ireland tells solicitors to inform clients that they will never send bank details by email, and advises clients to confirm account details by phone using a number from the Law Society directory, not from the email: see Law Society of Ireland guidance.

Bulgaria. A notary escrow account is available: the buyer pays into an account opened with the notary, and funds are released after the deed is registered. It is often chosen as the safer option for the balance.

Monaco and others. We could not verify the rules for notaries' client accounts in Monaco or in every other country, so we do not describe them. Ask the local lawyer to explain the rules and the insurance in writing.

Euro area. Since 9 October 2025 payment providers in the euro area must offer a verification-of-payee service: the bank checks whether the name you typed matches the name of the account holder for the IBAN you entered, and tells you if there is a mismatch. The service is meant to catch invoice fraud. See Regulation (EU) 2024/886. It helps only if you type the expected name correctly and take a mismatch seriously.

How to protect yourself

• Get the account details once, in writing, in the engagement letter or contract, and never accept a change by email or message alone.
• Verify by an independent phone call to a number you obtained yourself (the firm's website, the bar or notary chamber directory, the contract), not from the email. Read the IBAN aloud and confirm the beneficiary name, bank and amount.
• Check that the beneficiary name matches the person or firm you expect; a mismatch with a personal account or a company you do not know is a red flag.
• Use your bank's name-check service where it exists and do not override a mismatch warning.
• Send a small test payment first only if the lawyer agrees, then wait for confirmation before sending the rest; staged payments (deposit, then balance close to the deed) limit what can be lost.
• Prefer a regulated client account or notary escrow over the seller's personal account, and prefer paying near the signing date instead of weeks earlier.
• Ask which insurance the lawyer or notary has and for how much, and whether client money is held apart from the firm's funds.
• Be wary of urgency: a message that says the deal will collapse unless you pay today is a classic fraud pattern.
• If you suspect a mistake, call your bank immediately, ask for a recall, then report to the police and the lawyer. Speed matters.
• Keep all communication about payment in one channel and be suspicious of new addresses.

See property scams abroad: the most common schemes and bank questions when moving large sums abroad.

When to involve a lawyer or notary

Always before the first transfer: your own independent lawyer should explain how the price flows, who holds the funds and what protects you. A notary is a neutral official and does not look after your interests alone: see notary or lawyer: who do you need abroad. For closing by proxy or remotely, see remote signing and closing a property deal abroad. Also read how to read a property purchase contract abroad.

FAQ

Is it safe to wire money to a lawyer's client account? Generally it is the standard method, but safety depends on the account details being correct and the lawyer being regulated and insured. Verify by phone before sending.

Do notaries hold the purchase price? In some countries or by agreement they can, for example through a notary escrow in Bulgaria; in others the price is paid between the parties. Ask in advance.

What if a fraudster changes the IBAN? Call your bank at once and ask for a recall, report to the police and tell the lawyer. Recovery is not guaranteed, so prevention matters most.

Who is liable if the lawyer's email was hacked? It depends on the facts, the country and the bank. Do not assume you will be compensated; follow the verification steps.

Can I split the payment? Often yes, and it is a sensible way to limit exposure, if the contract and the schedule allow it.

How we help

We are a trilingual platform (Russian, Polish, English) that finds properties and coordinates independent local lawyers and tax advisers who explain how the payment flows. This text is informational and is not legal, tax or investment advice. Rules change, so verify current provisions with a local lawyer or notary and your bank before sending funds.