What are your thoughts on this...

From 2007:

Escrow accounts

This is a post from this very website about escrow. Whoever thinks this isn't normal and hasn't been around forever needs to wake up. You may have strong opinions on the matter, but that doesn't change the realty of this situation.

 

I would never ever pay a W-2 employer escrow .

not now , not ever .
Does any other industry do it ?

only scammy ones .
No legitimate job attempts it .

And if you pay into escrow , just keep in mind that you will NEVER see that money again .
Kind of like the cleaning deposit at an apartment.
They will find a reason to keep the money .

 

Did you read the thread?
Doesn't seem too popular back then either.
I don't find a lot of support for your theory that it is normal or acceptable..
But what do I know, I've only got 5 decades on the truck..BTW I've never been asked to escrow so..
If you like your escrow job you should keep your escrow job. I hope the funds are returned after separation but most aren't.

 

The OP was asking if this was normal. I will say no. I have been out for several years and restarting I have 2 pre-hires with megas no escrow required, I have a third interview Tuesday with another mega, no escrow required, I have a regional carrier that appears highly interested no escrow required all W2. I would advise extreme caution and a very deep dive into the company as a whole as well as the contract the company gives to drivers. This may very well be legit if the escrow is the only deduction required and can be used for minor damage or cleaning after the Truck is turned in. At the same time I would bet once you read the contract there would be additional penalties/fines/fees for things like 5 mins late to aapt, not maintaining an impossible mpg, drop and hook charges for repairing a trailer that needs prior to driving etc. Driver is responsible for tolls and lumper fees. This is what I would be very wary of and would advise OP to strongly consider before even accepting an orientation offer.

 

You know the old saying “ theres one born everyday” . Well they been having them for years. I dont care who someone works for but I wont work for low rents like that and I have worked for some before but even they didnt have stupid escrow accounts.

 

Most of the posts say "ahhh heck naw", and the last says it's illegal.

Just because it's common doesn't mean it's normal or legal.

It's common to make wait staff clock out at closing time and then clean until the restaurant is ready. Doesn't make it normal or legal.

 

Didn’t read all the posts but agree with those that say the escrow money will be gone and paying for a deductible doesn’t sound much better

Even if you are hit by someone else there could still be a deductible involved and how much is it?

I would look elsewhere

 

I have a friend that had some sort of extra insurance on himself when he was a company driver that prevented him from losing his home as this lawsuit stuff affects everyone at the party

I also have a “wall” between myself, my company, the company I’m leased to and my equipment

 

How is escrow not a concern?

I’m not in that arena but I read posts here almost weekly if not daily how the driver left and they kept his money
I have to believe that an escrow may be normal but also believe that more acre the guy out of it than those who pay it back with interest

And
If he has knocked in 1000 doors and only this one opened then that’s one thing
But if it’s been only one or two? Then knock on a few more