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 including Escrow.com. The audit examinations serve to protect public funds, determine safety and soundness of operations and determine compliance with escrow statutes and regulations. The full list and information on our licences throughout the United States and other countries can be found here.
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 4:00 pm PST and reply to emails within 12 hours.
- Associated Banc-Corp
- BancWest Corp
- Bank of America
- Bank of New York Mellon
- BB & T Corporation
- BMO Financial Corp
- BNP Paribas
- BOK Financial Corp
- Capital One Financial
- Charles Schwab Corporation
- CIT Group
- City National
- Credit Suisse Group
- Cullen/Frost Bankers
- Deutsche Bank
- E-Trade Financial
- East West Bancorp
- Fifth Third Bancorp
- First Horizon National Bancorp
- First Niagara Financial
- First Republic Bank
- Firstmerit Corporation
- Huntington Bancshares
- IMB HoldCo
- JP Morgan Chase
- New York Community Bancorp
- Northern Trust
- People’s United Financial Inc
- PNC Financial Services Group
- Popular Inc.
- RBS Citizens Financial Group
- Regions Financial
- Santander Holdings USA
- Santander UK
- Scottrade Financial Services
- State Street Corporation
- UnionBanCal Corporation
- United Services Automobile Asc.
- U.S. Bancorp
- Wells Fargo
- Zion Bancorp