PreOwnedWeddingDresses.com recommends that buyers and sellers use Escrow.com for the wedding dress transaction. And here’s why.
Simply put, escrow.com acts as an intermediary within the transaction process. And offers protection for the buyer and the seller.
The Escrow.com (an accredited escrow company) process works like this:
Buyer and Seller Agree to Terms: Both parties agree to terms of the transaction, which includes a description of the merchandise, sale price, number of days for the Buyer’s inspection, and any shipping information.
Buyer Pays Escrow.com: The Buyer submits an available payment option. Escrow.com verifies the payment.
Seller Ships Merchandise: Upon payment verification, the Seller is authorized to ship merchandise and submit tracking information. Escrow.com verifies that the Buyer receives the shipment.
Buyer Accepts the Merchandise: The Buyer has a set number of days for an inspection and the option to accept or reject the merchandise.
Escrow.com Pays the Seller: Escrow.com pays the Seller by the method selected by the Seller. The transaction is complete.
How Buyers are protected:
Escrow.com tracks the shipped merchandise and verifies it was delivered (assuring the wedding dress will ship before the seller receives the money).
The Seller isn’t paid until the Buyer accepts the merchandise, or the inspection period expires (assuring that the item is as described).
How Sellers are protected:
Escrow.com confirms when the Buyer receives merchandise.
The Seller is authorized to ship only after Escrow.com verifies good funds (assuring the seller will get her money).
For wedding dress purchases, Escrow.com requires that the buyer pay via a wire transfer (essentially a transfer from your bank account to them). They do not accept not paypal or credit cards for wedding dress purchases.
Escrow.com offer buyers more protection than paypal. Why? Because Paypal offers its best protection for ebay purchases. Ebay purchases are protected under the Paypal Buyer Protection Policy. But non- ebay purchases are protected only under the Paypal Buyer Complaint Policy.
And for the Paypal Buyer Complaint Policy:
1) A complaint can be filed for an item not received, or an item significantly not as described
2) Paypal generally does make a ruling for item not as received. But generally does not make a ruling for an item significantly not as described
3) Even if paypal does rule in your favor, if the seller has already transferred the funds from her account, paypal will not be able to return your money.
Essentially, Paypal does provide is fast, safe, and secure transfer of funds, but it does not provide any real buyer protection.
And just a quick word on why we don’t recommend money orders, cashiers checks, personal checks, etc. There is just too much room for fraud when you mix those payment types with internet purchases. Internet scammers commonly use those payment methods to work their scams. And with those methods – someone has to pay first or ship first, and with an online transaction, that just shouldn’t be the case.
I know this is probably not the most exciting blog post you’ll read on the internet today – but I do think it is extremely important to anyone buying or selling a high priced item on the internet – and PreOwnedWeddingDresses.com considers it part of our responsibility to share it with you. Thanks for reading!