PPPay Escrow?

[Lovetosell]

Hi I'm coming back to sell soon, I will be selling high priced genuine diamond and gold jewellery and would like to offer PPPay escrow as a payment option for customer reassurance. BUT what happens if the customer is dishonest and says that the item is not what they ordered faulty etc.etc. will I be left without my money or item? Does anyone know? Thanx

[cmjewels925]

Escrow is used to keep both buyer AND seller safe.

1. The buyer pays the agreed price to the escrow company who let the seller know that they have received the payment.
2. The seller sends the item and gives the tracking number to the escrow company.
3. The buyer receives the item, tells the escrow company that they're happy with it and the escrow company release the money to the seller. If the buyer does not let the escrow company know that they're happy/unhappy with the goods within a preset time limit, the payment is automatically sent to the seller.
   OR
4. The buyer is not happy with the goods, returns them to the seller and gives the tracking number to the escrow company. When the seller acknowledges receipt of goods, or after a preset time limit, the payment is returned to the buyer.

Good luck with your return.

[BuyersDelights]

Thank you "Lovetosell & CMjewels"

You've asked and answered a question I wanted to know about, when I first read about escrow I thought it could be a bit iffy!! but cmjewels (the very clever claire who solves most of my pc problems) has put me straight again, now I have a more clear picture of escrow and how it works I think I will be adding that as a payment option very soon.

cheers
karen

[bf2007]

I have sold an item and the buyer paid by escrow, as I was sending from spain unable to fill in all the options i.e company sent with as only has U.K postage companys, put the tracking number from spain, buyer has recieved his goods and is happy but pppay have not released the payment to me, what can I do?
thanks
BF2007

[cmjewels925]

The buyer has to tell the escrow company that they are happy with the goods.

Many people are unfamiliar with the escrow process so your customer may not realise they have to do anything else, now they have the goods. You could email them and ask that they complete the process. If they don't, the escrow company will automatically release the funds to you after a set period of time (it varies between companies) if they haven't heard from the buyer. I'm presuming your customer emailed you to let you know they had received the goods and were happy with them; you could forward this to the escrow company to expedite the payment if your buyer doesn't respond.

[bf2007]

cmjewels925 thanks for the reply,
Yes have sent an e-mail to the buyer but have not reponded at the monent, they have posted feedback on here saying they were happy with the item and about quick delivery ect.

[bf2007]

says this on pppay web site when checking about escrow payment, but they will not be able to track as goods sent from Spain and not the U.K
You have shipped the goods, now you must wait for them to arrive. We will keep track of the parcel and will email you when the parcel arrives. The buyer will then have 24hrs inspection period before your e-money becomes available.