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Guide 2 Auctions   >   Buying Items   >   Escrow Services

Escrow Services for eBay


If you buy big ticket items on eBay , you should definitely take time to learn about escrow services and the protection they can offer you. An escrow service is designed to protect buyers (and sellers) from being ripped off, by using this simple methodology:
  • The funds for the sale go to the escrow service, and then the seller ships the item to the buyer. Only when the item has been received, the funds are released from the escrow service to the seller.

  • Sometimes it may also be desirable for both the item and the funds go through the escrow service. In this case, the service not only makes sure that the buyer gets the item, but also ensures that the seller gets the money.
In general, there is a small fee for the service, usually based on a fixed percentage of the sale price. There is no standard system for choosing who pays these fees, it is something that buyer and seller must mutually agree, but in many cases, the fees are split between the buyer and seller. For some ticket sales, the seller may offer the use of an escrow service as standard, but if they do not and you as the buyer wish to use one, you should ask the seller if this is okay before bidding, and consider offering to take care of the service's fees.

Of course, the protection that these services offer is entirely dependant on these services themselves being trustworthy. For this reason, you absolutely must choose a reliable and reputable escrow service. There are of course many escrow services on the Internet, but for this reason, the service that you will probably want to choose is Escrow.com.


 
 
 
 

 
 
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