Introduction to 'Money Transfer via Escrow'

You might be interested in buying some products online, but feeling worried about getting defrauded. Another concern you may have is the supplier may deliberately send you wrong or cheap items. Using a third-party escrow service is the simplest solution to all your trade related payment problems as its purpose is to secure online transactions.

How Escrow Works?

Escrow is a service that takes money from the buyer and holds it until the goods are delivered, all parties involved in the transaction are satisfied and the conditions have been fulfilled. After an escrow service receives money from the buyer, it informs the seller about it, so the seller feels safe in terms of shipping the goods. After the buyer confirms that he has received the goods, the payment is released.

Benefits of Escrow Service for Buyers and Suppliers:

Escrow is a third-party service which is gaining popularity online as it promotes safe and secure transactions for both buyers and suppliers. Through this service, buyers make payments securely and save themselves from receiving wrong or broken items from suppliers. Suppliers, on the other hand, use this service to save themselves from not receiving the money after the goods are shipped.

How Escrow Helps Buyers and Suppliers?

Buyers:

Escrow service enables you to keep your money safe and buy products online securely. You first order the goods online and then send your payment to escrow, instead of the supplier. You can make the payment through a credit card or wire transfer from your bank account. The particular escrow service you are using will hold your payment and will release it only after you confirm that you have received the goods.

Suppliers:

Escrow service enables you to receive all the money after you ship the goods to a buyer. Once a buyer sends money to an escrow service for you, you are informed by the escrow service that they have received the money and are now holding it for you. You will then ship the products securely. After the buyer receives your shipment, he will inform the escrow services and they will send the money directly into your account.

 

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Fraud Prevention - Case Studies:

Fraud Prevention: Case Study 1 - Tips for New Members
Fraud Prevention: Case Study 2 - Incorrect Details
Fraud Prevention: Case Study 3 - Even Suppliers Get Ripped Off
Fraud Prevention: Case Study 4 - Good Sample But Bad Order Production
Fraud Prevention: Case Study 5 - Fake Purchase Orders by Dishonest Immigration Companies
Fraud Prevention: Case Study 6 - First Meeting with the Supplier in Person
Fraud Prevention: Case Study 7 - Extremely Low and Attractive Price
 

Safe Trading Articles:

How Can Buyers Avoid Being Defrauded?
How to Prevent Yourself from Getting Defrauded?
Safe Trading Tips