Has anyone used escrow in their business?

[Sincerem]

I have never used escrow before. My little business is a business that can be done face-to-face with others and exchange of services and payment is done in the presence of two , the buyer and the sellers .

 

[Sotherefore]

I never had any encounter with business organisation that requires escrew for transaction. Most s of the transaction I am doing would mainly be with trusted people I know and not really with organisation or business owners I do not trust.

 

[Smiles20]

I have always used businesses in the past before where I will have to pay money and it is going to stay in an escort service until the product has reached me and it was a very good experience.

 

[tyrim88]

Escrow is a payment management company. It works as a bridge between buyer and seller. In other words, escrow is an online payment processing company that secures payment for the buyer as well as the seller. It started working in 1999. It is used by prestigious marketplaces like Upwork, Flippa, etc. Escrow can be used by a buyer or seller for any kind of online sales and transaction

How Does Escrow Work?

Let say you are selling something, however, the buyer cannot simply trust you because he has never done any transaction previously. Therefore, instead of sending payment directly, he sends it to escrow in your name. Once you see that payment is in an escrow account, you deliver your work. Escrow, then, releases your payment by sending it directly to your bank account.

I think this is a method through which most cryptocurency platform make use of for participants to be able to carry out transaction in crypto and fiat exchange using bank account,the asset will be kept in an escrow account untill confirmation is done.

 

[Chibson]

In a world where trust is very essential an escrow service is very important to avoid losing money unnecessary to fraudulent fellows. I have used it to receive payments and if I don't find an escrow arrangements, I hardly make any payments because I don't want regrets.

Probably, trust is very important and essential ideal for escrow services is a must for you as a business man. There are so many of them you can use and before then like someone have stated you must verify your ID and other things.

 

[Shigobad20201]

I

I have always used businesses in the past before where I will have to pay money and it is going to stay in an escort service until the product has reached me and it was a very good experience.

have never been opportuned to use escrow when paying for good and services , so i don't really know how it works , and thank for explaining in details on how escrow works,

 

[Popular]

No I've not heard of it .. thanks to the information shared here, it won't be bad if I tried it out. I will have to do research about it to know how it is operated.

 

[Honny143]

Honestly, I am very new in this field, and this the first time I am hearing escrow, what exactly is this, you are also not explained very well, then how to know I, is this payment network, like pay pal are payeer, and is this really secured like others.

 

[Danny4cash]

I have used escrow to sell a product before. I approach the buyer and he refused to pay for the product despite showing interest. He asked me to send the product to him first, but I can't do it. So, I suggest escrow to him and he accepted it. We set up payment with escrow. He sent the money to escrow and I send the product to escrow. Escrow send me the money and they sent him the product. Escrow is not free, though it's not cost.

 

[Potuse]

I have not use escrow in my business but it is definitely one of the way to ensure trust among participating members in a transaction. It serves as the middleman and it is often used by most of the platform to make payment.

 

[Good-Person]

I guess that majority of the Freelancing platforms now use escrow. This is because it is necessary to have escrow in order to avoid scams. It is mandatory and keeps the members safe.

 

[Potuse]

I guess that majority of the Freelancing platforms now use escrow. This is because it is necessary to have escrow in order to avoid scams. It is mandatory and keeps the members safe.

I don't think that there is a freelancing platform that would not use and escrow services . that is how they can draw their own gains from investing on the platform. The money will not go directly to the freelancers from the employer.

 

[Ononivami1]

This is my very first time of hearing about escrow ever and it sounds nice. Most times there is a risk of losing money to people and they don't deliver. This is a perfect solution to such problems and I should read more about it.

The escrow services is very simple and it is what most of the platforms online used to pay their workers. It is simply a meddleman between the worker and the employer. The employer would pay the workers wage to the escrow service and the escrow service will deliver it to the worker. it is often used on freelancing sites.

 

[Good-Person]

I don't think that there is a freelancing platform that would not use and escrow services . that is how they can draw their own gains from investing on the platform. The money will not go directly to the freelancers from the employer.

There was a time when many freelancers complained that certain people on a few platforms were running away without paying the writer. Some platform were actively involved in freelancing scams as well.

 

[Setho]

There was a particular time in which I wanted to buy something from a business that was not verified and we had to use an escrow in order to exchange goods and money.

 

[Potuse]

I guess that majority of the Freelancing platforms now use escrow. This is because it is necessary to have escrow in order to avoid scams. It is mandatory and keeps the members safe.

I don't think that there is a freelancing platform that would not use and escrow services . that is how they can draw their own gains from investing on the platform. The money will not go directly to the freelancers from the employe

There was a time when many freelancers complained that certain people on a few platforms were running away without paying the writer. Some platform were actively involved in freelancing scams as well.

Based on my understanding on escrow services, I believe it is more secure because both the worker and the employer may not trust each other, but will entrust everything in the hands of the escrow services.

 

[Sotherefore]

I have never used it before because every business and transaction I am dealing offline has never requested it but however I have used it in some online platforms in which I was carrying out transaction with someone that was not really trusted.

 

[Yohanna]

Have not seen escrow service offering companies in my area here. I am beginning to think in that direction . if I could have access to enough funds, I can establish one because it provide a middle ground for both the worker and the employer.

 

[Bookwormlux1]

This is my very first time of hearing about escrow ever and it sounds nice. Most times there is a risk of losing money to people and they don't deliver. This is a perfect solution to such problems and I should read more about it.

The platform is very legitimate and there is nothing to even doubt about it because a lot of people have used it to process transactions that involve huge sum of money without getting to lose it at all.

 

[Setho]

My business is actually registered with the corporate affairs commission and as such every details is there on the public for people to confirm so I do not need any kind of escrow.