No matter where you are in the world if you are making a purchase or selling a product or service online, Escrow.com provides a safe and secure third party financial transaction management service for you to complete the deal. Whatever the primary currency of the bank account of the buyer or seller, all transactions can be converted into the American dollar to create consistency across the global market.
The process of utilizing the services of Escrow.com during an online financial transaction couldn’t be simpler; there are five steps which must be followed with both the buyer and the seller having their duties to complete before the financial transaction is finalized.
- The buyer and seller register at Escrow.com and agree to the terms and conditions of the sale. These terms could include, but are not limited to, the price of the item (which will be stated in American dollars), the description of the item and delivery instructions including expected delivery time.
- The buyer pays Escrow.com. The buyer chooses their payment method which will likely be wire transfer in American dollars; they can also choose PayPal, credit card (Visa, MasterCard, American Express) or check or money order.
It is possible to make a wire transfer in Euros or American dollars, but all other transactions can only be made in American dollars. If this isn’t the main currency of either bank account, then conversion rates will be applicable whereby the user must confirm with their bank or credit card provider before continuing the transaction.
- Escrow.com informs the seller that the American dollars have been transferred and will remain in a holding account until the item is shipped or the service complete. All merchandise is tracked through delivery, so the purchaser knows exactly where their item is at any time.
- The buyer accepts the product. The buyer has a time limit to accept or reject the merchandise based on whether it meets the original description and whether the terms and conditions have been met by both parties.
- Escrow.com releases the American dollars into the account of the seller. This completes the transaction.
Using the services of Escrow.com during an online financial transaction will ensure that the transaction is settled in a risk-free environment. The purchaser will be making a payment into a completely secure third party holding account, and if the transaction is taking place in American dollars, there will be no currency conversion costs incurred by either financial institution. It also removes the risk of non-payment to the seller as the goods are dispatched after the dollars have been transferred to Escrow.com. If you are looking to buy or sell a product online and want a completely safe and easy way to complete the financial transaction, then contact Escrow.com today to find out more information on the variety of ways the American dollar can be used to complete your financial transaction.