Escrow: How Your Payment Stays Safe Until You Get Your Item
You found something you want to buy. But the seller is far away. How do you pay safely? Escrow helps.
Escrow, in plain words
A neutral program holds the payment until you get your item. This is called escrow. You don't pay the seller directly. The program holds the money. Neither you nor the seller controls it alone.
How it works
The program uses a simple rule. Three people are involved: you (the buyer), the seller, and a neutral person called an arbitrator. Any two of the three must agree to move the money. This is called 2-of-3.
Normally, you and the seller agree, and the money is released. If you disagree, the arbitrator steps in.
The steps
- You buy the item and turn on escrow at checkout.
- Your payment goes into the program. It is held there.
- The seller ships the item.
- You inspect the item when it arrives.
- If it is right, you release the payment. If it is not, you open a dispute.
It costs nothing extra
Escrow protection is included — there's no separate escrow charge today.
A real example
You buy a camera for $200. You turn on escrow. Your $200 sits in the program. The seller sends the camera. It arrives. You check it. You release the $200. Done.
If the camera never arrived, you open a dispute. The arbitrator reviews the facts and decides.
Why escrow protects both sides
You don't have to trust a stranger. The program protects everyone. The seller only ships when the money is safe. You only release the money when the item is right. A scammer gains nothing. An honest seller loses nothing.
Buy with confidence
Buying from a stranger used to be risky. Escrow takes that risk away. The money waits in the middle until you are happy.
Open the app — free, nothing to install — at app.omnibazaar.com.