Genuine Online Escrow: Litmus Test For Honesty

The Internet is the largest garage sale ever, and getting larger every day.

eBay, Craigslist, uBid, eBid, ePier, the list goes on, and on; each a huge pile of goods on the front lawn of someone who had lots of stuff in the garage or in the basement and now wants to get rid of it all; each item clearly marked, for highest bidder, or best offer.

Many items are just that, garage sale items, and if you win the bidding at $11.53 (including shipping), only to discover that youve been scammed, well, youre out $11.53, and in some bruised feelings. Its not the end of the world, and youre most likely wiser for the experience.

High-Ticket Items

But there are auctions, and online listings for things a lot more valuable than trinkets and used CDs; things like cars, jewelry, antiques, and collectibles that run in the thousands of dollars. Fraud and scams in this market take on a more sinister tone, they can ruin lives.

People in generaland bless them allare trusting souls. They are good at heart and want to believe good of others. This goodness, howeverin truth a strengthis viewed as a weakness by those to seek to profit by betraying such trust.

Criminal Success

And the scammers and fraudsters succeed far too often. Hardly a days goes by that you dont run across a news story about someone losing $5,000 on a car that never arrived, $12,500 on a collectible that turned out to be fake; or the reverse, someone shipped $8,000 worth of jewelry, but payment never arrived, or the promised cashiers check turned out to be personal, and bounced.

Faceless

The nice thing about the regular, grassy and noisy, garage sale is that you can see the person youre dealing with; and you can tell a lot from a face, from bearing, and voiceis he or she honorable or not? Also, you can touch, inspect, and judge the authenticity of what youre buying. And you can bargain openly. Things, in other words, are aboveboard, as they say.

Not so online. You dont know who youre dealing with. He or she (and theres no telling which, is there?) may show a 100% buyer satisfaction status (all perhaps variouslyand underhandedlygenerated by him- or herself), but you dont know for sure whether this person is trustworthy or not. There is actually is no way of telling.

Or is there?

The Litmus Test

Having nothing to hide, the honestand honorableperson will never, ever, object to dealing aboveboard.

And when it comes to Internet Commerce, or Online Auctions, aboveboard means only one thing: Online Escrow.

Online Escrow

The principle and process of Online Escrow parallels buying and selling real propertywhere, as you know, escrow companies are deemed indispensible due to the amounts involved.

Either Buyer or Seller opens an account with the Online Escrow;

Once price is agreed, Buyer remits payment to the escrow companynormally by credit card, but wire transfer and check also works;

The Online Escrow verifies arrival of fundsor authenticates the credit card used;

Once satisfied that payment is secure, the Online Escrow informs Seller and asks him or her to send Buyer the merchandise;

Seller ships merchandise and submits tracking information to both Buyer and escrow company;

Once the shippers tracking site shows the merchandise as delivered, the Online Escrow verifies with Buyer that the item(s) arrived in good condition;

Once well received, Buyer has an agreed-upon period to either accept the goods or, if not satisfied, return it to the Seller;

Once accepted by Buyer, he or she informs the Online Escrow, which then releases the payment to Sellerless any processing fees and commissions.

As straightforward and aboveboard as things come.

The Test

Its the model of simplicity: if the seller (or buyer, for that matter) balks at using an Online Escrow, he or she has something to hide. Invariably.

This bears repeating: if the seller (or buyer, for that matter) balks at using an Online Escrow, he or she has something to hide. No exceptions.

Most sellers (or buyers), when you suggest using an Online Escrow, will see the wisdom in that and readily agree. In fact, any sign of balking at using such a service, any hesitation, any suggestion not to bother with such complexities, or any attempt to talk you out of this is a gigantic red flag: he or she is hiding something.

End the email conversation right there and then. Send no money anywhere. Look for what you need elsewhere. Sleep well at night.

Naturally, you would not consider using Online Escrow for trinkets and other inexpensive items, but for anything of value, its not even remotely optional.

Just one word of warning: all Online Escrows are not necessarily genuine.

Internet Escrow Fraud

Handling, as genuine Online Escrows do, substantial amounts of money, they are themselves often a target of fraudwhere look-alike phishing sites try to con you into using them rather than the bona fide site.

Also, the escrow company concept itself is flagrantly abused by criminals who set up fraudulent escrow sites where money will only travel one-way: you guessed it, away from you.

Verifying the Online Escrow

Should you have any doubts about the Online Escrow company itself, go to escrow-fraud.com, a site dedicated to tracking and exposing fraudulent escrow companies. They maintain an ever-growing database of fake sites, as well as a much shorter list of legitimate Online Escrows.

Make that sure youre dealing with the real thing.

Peace of Mind

Knowing that youre dealing with a bona fide escrow company, and knowing that your deal is moving aboveboard, you also know that you will not be ripped off or defrauded. And that makes for peace of mind.

Enjoy your safe online purchases.

PS. The best way to guard against being ripped off by online sales or auctions of any kind, Craigslist and eBay includedand whether buyer or selleris to use a genuine Online Escrow company; especially for pricier items like autos, jewelry, antiques, and collectibles. Although it does add some cost, it takes the uncertainty out of the transaction, and thats a small price to pay for peace of mind.


For my money, the best genuine Online Escrow today is Escrow.com (http://escrow.com). In fact, it is the only one eBay recommends, and it is the only Online Escrow licensed to provide escrow services all across the United States.