With Escrow, You Insure Your Purchases Before You Even Get Them - By: Allen Davis

Online sales have risen steadily since the early 90's due to the convenience it provides. Consumers have been allowed to shop on store websites and auction sites in every corner of the world from the comfort of their home. However, with this rise in popularity also comes a rise in those looking to misrepresent their items or services. In order to help prevent such issues, Ebay and other sites suggest the use of online escrow services for purchases over a certain dollar amount,usually $500.

Online escrow services allow a buyer to receive the item they have purchased and inspect it before the funds are released to the person selling it. How many times have you ordered something fragile, only for it to arrive broken? What if the person you are buying a service from ends up being a fraud or if they don't actually provide the service that they guaranteed? What do you do when you find the item you've been looking for for years, but you aren't sure if you can trust the person that's selling it? At times like these, unless you are utilizing an online escrow service, your options are probably extremely limited and you may find yourself wishing you hadn't wasted your hard-earned money.

There are many online brokers out there who only care about getting money and not about developing a customer that will return time and again. Make no mistake, these sellers are out there and should be avoided no matter what. They pressure buyers to pay in full for goods or services without any guarantee that the items will arrive as promised or that the service will be completed within the specifications agreed upon. What guarantee is there that you can trust the vendor you want to use for your transaction? Well, for the most part, you can never be 100% sure. Unless you use an online escrow service.

Online escrow services put the trust back into online shopping by acting as neutral third parties for online transactions. It's simple to get started. Either party can provide information about the specifics of the transaction. Once the details are provided, each of the parties are notified via email. Each of the parties verify the details and the transaction is started. The buyer transfers the funds for the transaction to the escrow company, who will then hold the funds in a dedicated non-interest bearing account. The online escrow company notifies each of the parties that the funds have been received and that the seller can now transfer the product or perform the service. The buyer receives the item or service and then completes an inspection to verify that the condition matches what was advertised. Once happy, the funds are sent to the person selling the product.

This process provides additional security that other services do not offer. With online escrow, consumers are given the security that they need when procuring high value products. Sellers no longer have to worry about fraudulent credit card charge backs or false disputes being filed. This wayit's a win-win for both sides.

Online sales have risen steadily since the early 90's due to the convenience it provides. Consumers have been allowed to shop on store websites and auction sites in every corner of the world from the comfort of their home. However, with this rise in popularity also comes a rise in those looking to mi

Allen Davis is the owner of Escrows R Us, an Online Escrow Service, that has helped protect thousands of online brokers and consumers in the online sphere since early 2006. He and his company have facilitated thousands of transactions without need to worry about security.