What Does 'In Escrow' Mean?
Your funds are held 'In Escrow' during the transaction until the merchandise, domain name, motor vehicle or service is delivered. This period of money held 'In Escrow' is crucial to ensure buyer and seller security. Payment will only be moved out of escrow when both parties are satisfied that the transaction has been carried out correctly.
Once money is held In Escrow, the seller can safely ship the merchandise or carry out the service knowing that it will be held securely in trust and all disputes will be handled according to the agreed upon contract.
If the buyer is not satisfied with the transaction - merchandise not delivered or not as described, the buyer will then be able to easily reject the transaction and have the money returned from Escrow.
Holding funds 'In Escrow' simplifies the dispute process - the funds will not be released until both parties have agreed.
Testimonial
- Pamela , Illinois | Domain Seller
It's been my 3rd transaction with escrow.com. I've always been impressed with your straight forward and secure service. I live in Japan and was amazed by your speed in sending payment through wire transfer. I receiving the closing statement by email and within a few hours, my banker in Japan called me to let me know the funds are in my account here in Japan. Wow I can't believe how fast you guys are. Even my buyers payment from Europe was received quickly and the transaction status was updated within 3 days so we could proceed fast towards inspection without delays. I'll be sure to recommend escrow.com to colleagues. You guys never fail! Thank you very much for your excellent service.