Don’t let fraudulent online escrow services take you for a ride.
You’re involved in an online transaction for a valuable item and the person buying the item doesn’t want to send any money until they see that the item is safely in their hands and as advertised. However, the person selling the item doesn’t want to send the item until they’ve been paid in full. What’s the answer? Before you say online escrow services, you’d better read this.
Online Escrow Services Aren’t Always Legit
Before you put your trust in any online escrow services, you’re going to want to make sure they’re legit. Unfortunately there are many people who are finding out the hard way that many escrow services are merely a front to scam you out of goods and money. Both buyers and sellers have been conned out of cold-hard cash by using illegitimate escrow services. So what’s a consumer to do?
Research, Research, Research
Before using any online escrow services, you’re going to want to research them. Are they licensed in the state they’re located in? Are the bonded? If they are licensed and bonded, you have more of a chance that they’re a legitimate company. Also make sure you get the company’s physical address before using their services.
The bottom line is, just because a company claims to offer legitimate online escrow services doesn’t mean you should take them at their word. Do heavy research on any online escrow services you plan on using and make sure that you’re not going to be taken for a ride.