Do you need to make a transaction? Transferring money online is one of the safest ways to process your money. Many traditional methods such as checks, drafts and money orders just as easily do the job. However, by paying your transaction online it is processed quicker, there are no delays and it is actually the safest method. Surprised? Online payments are the safest because 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.
What is Escrow.com? This service is a financial arrangement with a third party regulating online payments for the two parties involved in the transaction. It can help you secure your transaction and confirm the quality of the product being exchanged. Conducting an online escrow transaction with your East West Bancorp account adds another layer of security between the buyer and seller.
As a customer of East West Bancorp, using Escrow.com will ensure an easy purchase process and make the transaction trade secure for both parties.
Here’s how Escrow works:
- Terms and Agreements - The buyer and seller agree to a given price and the terms of the transaction. The payment must be initiated within 3 days of winning the bid.
- Buyer pays Escrow - The buyer then completes the transaction and is taken to the ‘Sale Completion’ area. The buyer can choose Escrow as their preferred payment method for future transactions.
- Funds are secured - The funds are kept for safekeeping with Escrow.com while the seller completes the transfer process.
- Merchandise delivery - Following payment verification, the seller will be authorised to deliver the merchandise to the buyer. Escrow.com verifies that the Buyer receives the merchandise. The Broker is then notified.
- Inspection - The buyer will inspect the merchandise within a limited time frame and will accept if it is of expected quality.
- Release of funds - The funds are released only after the buyer and seller agree that they are satisfied with the results.
Once you have created an account with Escrow.com, making a transaction with your East West Bancorp account through Escrow.com is quick and efficient.
You will no longer have to worry about the transparency of your transaction. Through Escrow.com, every time you log on to your account the status updates will let you know exactly where you are in the transaction process.
Facilitated by a trusted third-party, the escrow process removes the risk from online transactions to ensure a safe, secure and intuitive sale for both buyers and sellers. What are you waiting for? Visit Escrow.com for a secure transaction today.