What are some good online escrow services

The seven deadly sins of surfing

5. Mortal sin: Use unsuitable payment or escrow services

There are two main dangers associated with fiduciary services and online payment methods:

The data protection of a payment service is abused: For example, the user pays for goods bought on eBay via Western Union or Moneygram. With the help of a transaction number and an agreed password, the recipient can have the money paid out unbureaucratically in cash with these services. His identity is not documented. For example, if the buyer does not receive the goods, it is not possible to track who the money went to. Accordingly, Western Union emphasizes that their money transfer service is not intended and suitable for business between strangers.

The proposed service only exists for a short time or only for a sham: If a business partner wants to process the money transfer exclusively via a certain payment service, customers should become suspicious. In the case of expensive goods in particular, it can happen that an alleged prospective buyer offers an attractive sum that he or she wants to pay through a certain trust service. But the seller never gets his money: either the service is unavailable or access (and thus the collection of the amount) no longer works. There are now several thousand of these obscure online escrow services.

Users should therefore always first check whether the proposed service is known and reputable or whether there have already been complaints in the past. Often such money transfer companies are set up solely for the purpose of fraud and close again after a short time. A daily updated database with screenshots for all services can be found at escrow-fraud.
Tip: Processing via a reputable trustee service can make sense, especially for high-quality goods. You should definitely use the Ebay escrow service for Ebay stores.