What are some of the Advantages Of Using An Escrow Account
- Its reduces the potential risk of fraud by acting as a trusted third party that collects, holds and disburses funds according to provider and employer instructions.
- It offers protection to both provider and employer as the employer receives and inspects the submitted work before releasing funds in his escrow account to the freelancer.
- It will help put sellers on their toes as they are encouraged to ensure that the product dispatched is to the described specification.
- Escrow account helps to prevent credit card fraud as escrow accounts are funded mainly from verified sources such as direct bank account transfers, PayPal, Skrill, Flutterwave, PayFast or other gateways integrated on our sites.
- Using Escrow on ifreelance247 is free.
Where any of the parties involved are not satisfied with the transaction, they have the right to file a dispute. The site’s admin dispute team will engage the parties with the aim of resolving the dispute based on the evidence presented.
Admin is able to force escrow release to the provider or refund to the employer.