Has anyone used escrow in their business?

[Senator]

The peer to peer payment system we use in binance to buy and sell out cryptocurrency is completely an escrow system where the binance exchange serves as the escrow to release funds when all has been done by the other party

 

[Kubiat-Abasi]

Thank you for the detailed explanation I've actually heard of escrow but I didn't actually know what it entails. It will help reduce the rate of fraudulent activities.

 

[Kane]

If you are selling digital services online, it makes sense to use escrow service. Escrow is a wonderful service for buyers and sellers. When I sell websites, I always use escrow service.

 

[Toyoabasi]

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 just got to learn of escrow, so I have never used it.
Thanks for intimating me on the platform. This means it helps stand in as a middleman for the buyer and seller, especially when it comes to transactions.

 

[Sotherefore]

I have never used it before in any business or witness a situation in which it is being used before but I believe this can be used especially if the original owner of a particular product is not in a location in which the transaction will be carried out... The escrow organisation has to serve as a bridge between the buyer and the seller.

 

[Good-Person]

I have never used escrow payment system because I never needed. But I have read that it is a great way to protect yourself and it is also used by many popular payment systems such as paypal. I think Bizdustry also provides such kind of system and service for its members and you can open a support ticket if any member in here scams you.

 

[Shaffy]

Its hard to trust escrows since scammers discovered it as an easy way to cheat people. I think p2p works based on escrow services too.

 

[Niftyyem]

Its hard to trust escrows since scammers discovered it as an easy way to cheat people. I think p2p works based on escrow services too.

You are right about that. For instance, Binance acts as the Escrow between the parties on p2p but that is how far I can trust any escrow, it is harder to see trustworthy individuals as escrows.

 

[eLdavis]

If you are selling digital services online, it makes sense to use escrow service. Escrow is a wonderful service for buyers and sellers. When I sell websites, I always use escrow service.

That's nice, if I may ask, what is your personal experience with them? In terms of service, are they fast in response or how would you rate them?

 

[Godspower]

I have never used escrow in my dealings and transactions. Escrow is mainly used when there is distrust or 100% lack of confidence on both sides of the transaction. So the third party has to keep the money or property involved until the terms of the business transaction is completed.

 

[Sotherefore]

I have never used escrow in my dealings and transactions. Escrow is mainly used when there is distrust or 100% lack of confidence on both sides of the transaction. So the third party has to keep the money or property involved until the terms of the business transaction is completed.

Yes that's what I was even thinking ,that this can only occur if people in a different location are engaging in a transaction without physical meeting, for every party to be on the saver side it is always the best for them to use escrow because this will be able to act on behalf of both of them without partiality.

 

[Bousine123]

This is my first time hearing about the Escrow maybe it is not available close to me, let those with tell us more because I don't want to be left behind do a moment.

 

[Sextafeng23]

It's cool most especially when people you are dealing with are strangers.

 

[Kaffyfolla]

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An escrow is a contractual arrangement in which a third party receives and disburses money or property for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties.

 

[Emmy]

This is new to me but however it has very good reviews. I think it can be reliable because it has a long life span already. I would look for who has used and make more research.

 

[Ezekiel]

I have not heard of this before I would love to try it but sincerely I don't joke with money I will need to understand go some research about it

 

[Adecyptii]

I don't know anything about it,this is my first time of hearing about it and How it works,but the escrow is important since they tend to be bridge between buyer and sellers.

 

[Immilash1]

I don't know anything about it,this is my first time of hearing about it and How it works,but the escrow is important since they tend to be bridge between buyer and sellers.

It seems like you don't have much idea on this. The word escrow doesn't sounds familiar but is all about how a how buyers and sellers relate

 

[Adecyptii]

Yes,at first I didnt know how it is,most of the terms seems to be new to me,but I am very sure they also serve as medium between the buyer and seller

It seems like you don't have much idea on this. The word escrow doesn't sounds familiar but is all about how a how buyers and sellers relate

Yes,at first I didnt know how it is,most of the terms seems to be new to me,but I am very sure they also serve as medium between the buyer and seller

 

[Ezekiel]

Woo this is a lovely platform it really helps,it is indeed a legit platform,this will make customer do transaction without fear
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Escrow is one of the internet service website that has helped to build the trust in both buyers and seller in any Market place. Escrow help to prevent scammers from both ends, either from the seller or the buyer. Escrow is used on flipper whenever you want to sell a website so that scammer you don't abscond with your website.

Well to me it is a nice idea of reducing scam,but the problem is that Escrow will definitely want some percentage which then will lead to increase prices