Escrow, Explained
- An Escrow service acts as a middle man between a buyer & seller.
- The Payment is sent to the Escrow service
- The Escrow service confirms that the payment has cleared
- The Seller sends the Buyer the Goods
- The Buyer confirms receipt of the goods
- The Escrow service sends the payment to the seller
- The Escrow service will take a fee either an additional amount paid by the buyer
or from the money they pass onto the seller.
- Escrow.com are the eBay approved escrow company, they cover transactions in US Dollars & UK Pounds (and tell me that a service in Euros will soon be launched)
- It has been suggested that a service like Western Union & MoneyGram could be used
like an Escrow service, but this is not the case.
- Beware There
are many fake Escrow companies, prior to using any Escrow site you should check it out.
See the eBay Escrow Discussion Board and SOS4Auctions for lists of fake Escrow sites.
- The US Escrow Discussion board is a vital resource for checking the validity of
Escrow companies, see link at bottom of page.
Below is a list of other Escrow services
- United Kingdom -
- Auctionpix
- The UK Payment service
PPPay.com includes an Escrow service.
- Germany -
- iloxx intelligent logistics This site is in German, for a translation visit
AltaVista Babel Fish (they will communication in English by e-mail)
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