Wiring money or sending money at any time for a fixed fee is a convenient option should you have family, friends or colleagues across the world that need access to money instantly.
Western Union is a global payment service that is used in over 200 countries and moves over $150 billion in principal in the last year alone. The service helps people from all backgrounds transfer money through digital, mobile and retail changes, meeting short-term financial requirements for customers.
While Western Union wire transfers offer a convenient option for user, the lack of buyer protection can create an issue with transfers and users are opting to use a dedicated escrow service to protect their funds.
Using an escrow service as a purchase protection can be a viable option for a range of reasons, particularly if you are wiring funds to individuals that you do not know. Escrow services allow buyers and sellers the security that their transfer will be protected; as to use an escrow service buyers and sellers need to provide email details, phone number, address and create an agreement for the transaction, which provides a firm agreement for both parties and avoids fraud and misconduct during a transaction.
Convenience
It goes without saying that once you have set up your escrow service, you can transact quickly using credit cards, PayPal or a range of payment options. Transfers are quick and safe, and can be made globally to end users.
Safety and security of a 3rd party agent
Sending and receiving funds across a range of transfer options is handy, ensuring the funds arrive at the end of the transaction and are credited to the correct recipient has been a challenge of wiring services in the past, using an escrow service provides a watertight option that safely protects your hard earned money.
Low fees for transactions
Fees are calculated for escrow based on the value of the item being transferred, so you will only ever pay a set fee based on what you are sending to the receiving party. Coupled with this escrow services offer a protected SSL service, so you are protected from fraud and misconduct during your transaction.
Escrow services are used for a range of reasons, from transferring payment for classic cars and luxury goods, right through to paying for high end software programs and antiques, whatever you’re looking to use an escrow service for, you can be guaranteed that as a third party you will be protected throughout the transaction process, and your goods or funds will safely be transferred to the outlined recipient without fear of fraud or delays.