Escrow services are licensed agents who help buyers and sellers carry out their transactions online via the web. By providing third party involvement in the buying and selling of luxury and valuable goods, an escrow service ensures the confidence that your transaction is protected by a globally accredited escrow agent that understands the intricate nature of transaction funds and goods online.
Online payments allow buyers and sellers the convenience of packing quickly and simply via credit card, bank transfer, wire transfer, PayPal or even check or money order. While online transactions can be troublesome online for unsecured websites, using a secure site that is protected by SSL will ensure payments can be processed safely and efficiently so your goods can be shipped and received in short time frames.
If you're looking to pay for your goods or services with a credit card using Escrow.com, you'll need to be aware of a few conditions. Firstly, you will need to create an Escrow.com account, and once this is set up, you will need to add in your transaction details.
Once you have set up your transaction, you can choose how the buyer will be paying for the goods. If you choose to use a credit card you will need to be aware of the following:
- Credit cards are accepted on Escrow.com including American Express, MasterCard, Visa, and PayPal.
- To use a credit card both buyer and seller must be US residents and merchandise must be shipped to a confirmed address.
- All credit card payments are protected SSL and information is fully encrypted for your protection.
- Credit card payments to carry an additional deposit fees, and cannot exceed payment amounts of $5,000 unless otherwise approved by Escrow.com
- Credit card payments do need to be held for three business days for the funds to clear into the account.
Services such as Escrow.com provide a service whereby your money is held safely while the transaction is taking place. Once the buyer receives the goods and checks that they are as described the funds are released, and the transaction is completed. As well as this, throughout the process the shipping, delivery and agreement are managed to ensure that both parties abide by the selling agreement and damages are avoided.
Fraud is taken very seriously by Escrow.com, and the platform is constantly evolving to protect our buyers and sellers transactions and offer a safe transaction for all parties.
As a fully licensed and accredited escrow company, the company is protected by a government regulated entity and are regularly audited, providing pieces of mind for all Escrow.com clients.
Throughout the process, escrow services provide a support system so buyers and sellers can communicate any issues or concerns to a neutral third party. If there is a dispute set up, an escrow agent can set up a dispute and commence arbitration. If this dispute is not finalized within a certain time frame, it is passed onto an arbitration association or mediation.