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Escrow FAQ
- Q: How do I send an escrow payment?
A: Only the buyer can execute an escrow payment - he only needs the email address of the seller to initiate the
transaction as follows:
1) go to the Send Money tab;
2) select the escrow check box; and
3) follow the instructions.
- Q: As the Buyer, what happens to my payment when I send it via Moneybookers Escrow?
A: Your funds remain in a secured intermediary trust account that neither you nor the seller can
access until the transaction concludes.
- Q: Does Moneybookers Escrow favour neither the buyer nor the seller?
A: Yes. Our escrow service is a neutral intermediary that assures a secure and smooth transaction process for both buyers and sellers.
- Q: How can an Escrow payment be cancelled?
A: The seller may cancel the transaction at any time and the payment and security deposit would then be
returned to the buyer. The buyer may reject the transaction during the inspection period after receiving
the items, but the buyer is still responsible for shipping the merchandise back to the seller, and for paying any fees.
- Q: How does Moneybookers Escrow protect the buyer against fraud?
A: The Seller does not get paid until the buyer accepts the merchandise or the inspection period expires.
If the merchandise is fraudulent, it gives the Buyer the chance to return the merchandise before payment
is released to the Seller.
All shipments are tracked to ensure the Seller shipped the merchandise.
Moneybookers' proven verification procedures allow fast identification and prosecution of fraudsters.
- Q: How does Moneybookers Escrow protect the seller against fraud?
A: All payments are guaranteed by Moneybookers unique secure payment system, there is no charge back risk to worry about.
A special security deposit of 2% paid by the buyer (which is only released back to the buyer after successful
completion of the transaction) will ensure swift action by the buyer in the inspection and acceptance procedure.
All shipments are tracked to ensure the Buyer received the merchandise.
Moneybookers' proven verification procedures allow fast identification and prosecution of fraudsters.
- Q: What are the fees for sending an escrow payment?
A: Our fee is paid by the buyer and is 1% of the purchase price (but a minimum of EUR 2).
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Q: What is the security deposit?
A: A security deposit of 2% of the purchase price is paid by the buyer, which is returned once the
payment has been released to the seller. This deposit encourages the buyer to complete
the escrow once the goods are received.
- Q: What if the Seller does not ship the items?
A: Funds will not be released to the Seller until the buyer has received and approved the items he is purchasing.
This eliminates the concern for non-shipment of goods.
- Q: For which purposes can I use Moneybookers Escrow for?
A: Our escrow service is ideal for auction payments, domain name transfers and any other type of
national or international trading.
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