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Escrow FAQs

What is an escrow service?
An escrow service benefits buyers and sellers by facilitating the transfer of goods for payment and adding an extra layer of security and convenience. i-Escrow is a company that can provide this service.

How does an escrow service work?
When an auction ends, your end of auction email contains a link to begin an escrow transaction. You will go through the following steps to complete your transaction.
  1. Start the escrow process by clicking on the i-Escrow link in the email. This will prompt our system to gather your auction information for submission to i-Escrow eliminating the need to complete this information by hand once at i-Escrow.
  2. The other party receives an email from i-Escrow requesting an acknowledgement of the terms of the transaction.
  3. Once the transaction is acknowledged by the other party, the buyer pays i-Escrow the agreed upon price, by credit card or other means.
  4. Upon verification of payment, i-Escrow informs the seller that payment has been received along with the address where the seller should ship the merchandise for the buyer's inspection.
  5. The seller provides i-Escrow with the tracking number of the shipment.
  6. The buyer receives the merchandise and, upon approval of the shipment, logs in to i-Escrow to confirm approval.
  7. i-Escrow sends the check to the seller.
What are benefits of using an escrow service?
For sellers, i-Escrow provides:
  • The assurance of prompt payment in good funds as well as protection against credit card fraud and chargebacks.
  • The ability to accept multiple forms of payment, including credit cards, checks and money orders.
  • A convenient way to overcome the concerns of wary buyers.
  • QuikTrack, an online tool that manages and keeps track of all your transactions.
For buyers, i-Escrow provides:
  • The ability to receive and inspect merchandise before the seller is paid.
  • The flexibility of multiple payment options and the access to a trusted source to hold those payments.
  • QuikTrack, an online tool that manages and keeps track of all your transactions.
What are i-Escrow's fees?
i-Escrow's fees are based on the amount of the transaction and the method of payment. Visit i-Escrow to view their fee schedule. Using i-Escrow may be worth the peace of mind that you'll get by knowing your transaction will be secure and easy.

For more information about i-Escrow click here.



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