Escrow.com provides an entirely safe and secure third party payment facility to finalize online transactions. Funds being transferred from one bank account to another is a common, if not preferred, method of making a payment. Once a buyer has committed to an online purchase, both parties sign up to Escrow.com and agree to the terms and conditions before the payment process can begin.
Payment made from one bank account to another is commonly known as a wire transfer. This is the method of electronically transferring the cost for goods into a bank account owned and operated by Escrow.com where the funds will be held until the purchaser has confirmed that they’re satisfied with their goods or service.
Once ‘wire transfer’ is selected as the preferred payment method, the seller electronically transfers the cost of their purchase to a bank account owned and operated by Escrow.com. The transfer is completely secure using fully encrypted software to ensure that the bank account details of the purchaser are fully protected at all times. This ensures that all risks of online fraud are removed, and the financial security of the buyer is never placed in jeopardy or a compromising position; user safety is paramount to the service that Escrow.com provides and selecting wire transfer as a method of payment wholly supports this.
Once the purchaser has confirmed that they are happy with their goods or service they notify Escrow.com that they authorize the release of the funds to the seller. It takes approximately one business day for the money to appear in the seller's bank account from transactions carried out in the United States and three to five business days if the transaction originated in Europe. There are many benefits to all parties when using wire transfer as a method of payment directly into the seller's bank account:
Once a purchaser has confirmed that they are satisfied with the product that they’ve received and authorized Escrow.com to release the funds, the money typically appears in the sellers bank account within one business day. If the transaction originated in Europe, it can take three days. Authorizing a payment from a bank account takes a matter of seconds to complete as opposed to writing checks and mailing payments which can take many days to arrange. Safer.
Using a bank account transfer, or wire transfer, to make and receive payments means that all monies are transferred within a fully encrypted system with no risk to payment details being compromised.
Transferring from one bank account to another couldn’t be simpler. It’s as straightforward as clicking a button and letting Escrow.com do the rest. If a transaction originates in Europe, bank account transfer is the only method of payment available through Escrow.com.
If you are looking to complete a fully protected, prompt, low-cost online transaction then choose the wire transfer option when you sign up; the money will be taken directly from the bank account of the purchaser and once released by Escrow.com will be moved to the seller's bank account. This removes all risk of online fraud and once transferred from the purchaser; the money will not be rejected at any point throughout the transaction.