• I have never really used escrow.

    What is your experience with them like?

    Why would one choose escrow over paypal?

    Since I do not have one, is there like a long verification process like paypal has, until you can withdraw the money?

    And lastly, is it easy for peole to scam others via escrow? Like get a product and do a refund?

    Thanks guys :)
    Post edited by Unknown User at 2010-06-04 07:58:09
  • There are several escrow companies and it's best to use one in your home country.

    If you use escrow.com it's a lot safer than Paypal. No, they don't have a long verification process. In fact, they don't have any verification process beyond confirming your email (it's been a long time since I signed up with them and that's what I remember of the process)

    It isn't easy to scam people through escrow for the average buyer/seller. It is possible if you are very familiar with the escrow.com process and know where the holes are.
  • Thanks Bill,

    Cool in that case I all game for escrow :)
  • Just one thing to add to Clinton's comment - when BUYING via escrow, you still need to make sure that your contract is solid and that you trust the seller, especially when dealing with sites where the majority of value is made of the site itself, files etc. - rather than the domain name (such as applications, infoproduct rights etc.)

    The reason for this is that escrow.com officially only deals with DOMAIN NAMES, not websites. This, in turn, means that escrow will clear your payment (and not accept any disputes) as soon as the seller can confirm that the domain has been pushed. Whether they've sent you any files etc. is not their problem.

    Btw. this is not just a theory but it has happened many times over so there's a valid reason to be careful.

    All in all - it's still A LOT safer (no matter if your'e buying or selling) than paypal.
  • [quote="bryanon"]
    Just one thing to add to Clinton's comment - when BUYING via escrow, you still need to make sure that your contract is solid and that you trust the seller, especially when dealing with sites where the majority of value is made of the site itself, files etc. - rather than the domain name (such as applications, infoproduct rights etc.)

    The reason for this is that escrow.com officially only deals with DOMAIN NAMES, not websites. This, in turn, means that escrow will clear your payment (and not accept any disputes) as soon as the seller can confirm that the domain has been pushed. Whether they've sent you any files etc. is not their problem.

    Btw. this is not just a theory but it has happened many times over so there's a valid reason to be careful.

    All in all - it's still A LOT safer (no matter if your'e buying or selling) than paypal.


    Ok,

    But on the sellers side of things ,it is much safer it seems. Very interesting. It is totally opposite to what paypal is doing. But seems that escrow has made it more favorable for the seller :)

    Any other tips in regards of receiving payment via escrow?

  • Just one thing to add to Clinton's comment - when BUYING via escrow, you still need to make sure that your contract is solid


    And take note that escrow.com doesn't care about your contract. As far as they are concerned their terms replace your contract. So they'll release funds or refund money to buyer based on what THEIR small print says, not what your contract says.