How Does An Escrow Account Work?
Escrow.com is the only fully licensed, bonded and audited secure online escrow company.
When you perform a transaction on Escrow.com, all payment is held in the most secure trust Escrow Account. This protects against all fraud, chargebacks and wrongly described goods.
As a seller, your funds are held in the Escrow Account until either the buyer has received and approved the merchandise or the buyer rejects the merchandise and the return process is completed.
As a buyer, your funds will be held in the Escrow Account until you have received and approved the merchandise. If you do not receive the merchandise or it is not as described, you will be able to reject and return the merchandise and have your funds returned to your account.
Government agencies perform regular audits of independently licensed escrow companies. The audit examinations serve to protect public funds, determine safety and soundness of operations and determine compliance with escrow statutes and regulations.
Internet Escrow Services at Escrow.com, located in the state of California, is audited regularly by the following entities:
- California Department of Business Oversight License #9631867
- Arizona Department of Financial Institutions License #EA 0908016
- Idaho Department of Finance License #ESC-1050
The California Department of Business Oversight conducts the most stringent examination of all government agencies. Learn more about its Escrow Law.
Escrow.com is also licensed in other states in accordance with our business practices.
Using your bank account with our secure Escrow Accounts
Once you have created an account with Escrow.com making a transaction with your bank account through Escrow.com is quick and efficient. Escrow.com accepts wire transfer from your bank as the primary method to deposit into Escrow.com.
Are you looking to make an online payment with utmost security? Do you want verification that your money will reach the right hands? Escrow.com has a step-by-step process that will ensure protection for both the Buyer and Seller when using a bank account for online transactions. Escrow.com ensures that all their customers are protected equally and any disputes dealt with appropriately and fairly. There is no scope for uncertainty or worry as the entire transaction is conducted under the supervision of Escrow.com’s honest and diligent professionals. Every step is tracked and verified and you can have complete confidence that your money will reach the right destination.
What exactly is Escrow.com? This service is a financial arrangement with a third party regulating online payments for the two parties involved in the transaction. As one of the safest and most secure third-party purchasing services available online, Escrow.com keeps both the buyer’s and seller’s money safe until the transaction is complete and both parties are 100% satisfied. Conducting an online escrow transaction with your bank account adds another layer of security between the buyer and seller.
How does Escrow work?
Using Escrow could not be easier. All you need to know is the following steps:
- The buyer and seller agree on the set price and the terms of the transaction.
- The buyer completes the transaction, which is shown in the sale completion area. At this point the buyer can choose Escrow as their preferred payment method for future transactions.
- Once the payment is verified, the seller will deliver the merchandise to the buyer. Escrow.com will verify that the Buyer has received the merchandise.
- The buyer has time to inspect the product and accept the service if they are pleased with the quality.
- The funds are released once both parties are satisfied.
Once you have created an account with Escrow.com making a transaction with your bank account through Escrow.com is quick and efficient. You will no longer need to worry about the transparency of your transaction. Every time you log on to your Escrow.com account, the status updates will let you know exactly where you are in the transaction process.
Contrary to popular belief, it is much safer to conduct your transaction online as everything is documented. There are no paper bills cluttering the transaction and there is an organised tracking method to follow the process of your money.
Need more support? No problem! Escrow.com is backed by experienced and knowledgeable escrow professionals. The staff are available to personally assist you with any concerns or needs that may arise. They offer live phone support Monday through Friday, from 8:00 am to 11:00 pm and reply to emails within 12 hours.
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