Escrow.com is fast becoming the world’s most prevalent method of performing online transactions. Whether you are buying or selling, the appeal of Escrow.com lies not only in the incomparable safety and security features it provides the user but also within the simplicity of the process. You don’t have to be an online expert to take full advantage of the services that Escrow.com delivers, it is highly recommended to beginners too!
In a nutshell Escrow.com is a trusted third party that collects funds and disburses them when both parties involved in an online transaction are satisfied that all terms and conditions have been met.
If you think this sounds too simple to be true here are the fuss-free steps broken down even further.
- The buyer and seller register at Escrow.com where both parties agree to the terms of the transaction. These terms can include, but are not limited to, delivery time, a description of the item and the cost.
- The buyer uses the secure online system established by Escrow.com to transfer the funds for the merchandise, and the seller is notified that they money is in a holding account waiting for them to fulfill their obligations as agreed in step 1.
- The seller ships the item and provides tracking information to Escrow.com.
- The buyer has a specified time period to accept the item and advise Escrow.com that this has been accepted. If the seller rejects the item it is at this point that a dispute will be raised and Escrow.com will be required to act as a third party for resolution.
- Once the merchandise has been accepted by the purchaser, Escrow.com release the funds to the seller and the transaction is complete.
Escrow.com provides enormous benefits to both buyers and sellers no matter what area of online trading they’re involved in.
Benefits to the buyer
When making purchases online, it is hard to guarantee that you’re getting what you pay for. While confusion can often arise based on innocent misunderstandings, there are also occasions when people abuse the anonymity that the Internet provides for the purpose of deliberately misleading others to part with their money. Escrow.com removes all elements of doubt on the behalf of a buyer that their money will be spent exactly as intended.
Money isn’t released to the seller until they are satisfied with the goods and shipping and delivery are tracked by the third party which ensures that no items ‘go missing’ once a buyer has made their payment.
Benefits to the seller
The seller is notified by Escrow.com once they have received payment on their behalf which guarantees that as soon as the merchandise has been received payment will be made. This avoids those instances of having to chase customers for unpaid invoices or having to dispute those buyers who ‘didn’t receive’ their goods and are requesting refunds.
With Escrow.com, there is no need to rely on trusting a stranger to complete your online transactions. It provides a safe and secure third party environment which will ensure that your internet buying and selling take place worry-free and with ease.