Frequently Asked Questions

Everything you need to know about the PaySAFE process.

General Info

What is PaySAFE Escrow?
PaySAFE works as a neutral third party that provides financial protection for both Buyers and Sellers. Using online Escrow accounts, we collect, hold and disburse funds according to sales terms. Transactions are created online and agreed to by both parties saving time and misunderstandings.
What does escrow mean?
Escrow is simply property held in trust by a third party to be turned over upon fulfillment of an agreement or contract.
What types of transactions can I use PaySAFE for?
PaySAFE’s escrow service can be used for the trading of any legal goods with the exception of real estate. We do, however, reserve the right to refuse service for any transaction.
Can I use PaySAFE for real estate transactions?
No. Real estate transactions are restricted due to varying state regulations. This includes transactions involving deeds and timeshare ownership sales.
Can I use PaySAFE for international transactions?
Yes. PaySAFE can be used for transactions between countries approved by the United States government for trade.
What currencies does PaySAFE accept for international transactions?
PaySAFE only accepts and pays out international wires in U.S. dollars.
How does PaySAFE make money?
All of our user’s funds are held in non-interest bearing escrow accounts. PaySAFE earns money only through the collection of the fee at the completion of each transaction.

Safety & Security

How does PaySAFE protect the Seller?
PaySAFE protects sellers by verifying all buyer purchase funds up front before any exchange of items takes place. Not only does this eliminate the risk of non-payment or insufficient funds, but also guarantees serious buyers - not just window shoppers.
How does PaySAFE protect the Buyer?
PaySAFE protects buyers by holding their funds in a neutral, third party bank account until their purchase agreement is completed. Funds cannot be pushed to the seller without the buyer’s approval - protecting against misrepresentation and keeping honest people honest.
Is my personal information safe?
PaySAFE secures all of our user’s information using 256-bit SSL encryption. Additionally, no banking information is shared between the buyer or seller and is only held with PaySAFE for the duration of the transaction. For additional information, click here for PaySAFE’s Privacy Policy.

Getting Started

Does the buyer or seller create the transaction?
Either the buyer or the seller can create the transaction and invite the other party. We recommend that the party who creates the transaction have access to all relevant uploads and transaction details; like photos, description, copy of title, etc.
What happens if the other party rejects the transaction invitation?
The transaction is returned to Estimate status and can be modified and resent by the original creator.
Can you change the transaction details after both parties agree to the terms and the transaction is activated?
No. Once the transaction is agreed upon by both parties the transaction details are not editable.
What are the steps in the Escrow process?
  1. Either buyer or seller creates the transaction details and invites the other party
  2. Both parties agree to transaction details
  3. Buyer funds the full escrow balance
  4. Seller delivers or ships the goods
  5. Buyer verifies the transaction terms have been met
  6. PaySAFE releases escrow funds to seller
Why do I have to provide a copy of my drivers license or passport?
PaySAFE must verify all of our users identity according to PaySAFE anti-money laundering policy. This practice is to protect all parties.

Funding & Payment

How do I fund a transaction?
Once both buyer and seller have approved the transaction details, the funding instructions will be visible to the Seller when securely logged in to the PaySAFE platform. Funding instruction can be printed off and taken to their bank to initiate the wire transfer.

Wire transfers must be initiated from an account matching the the users profile.

Why must funds be wired from the users bank account?
PaySAFE’s anti-money laundering policy stresses the requirement to verify users identity and make all money transfers traceable to the accountable parties.
Will PaySAFE email me the funding instructions?
No. Funding instruction are only visible while securely logged in to your account at PaySAFEescrow.com.
What payment methods do you accept?
All transaction are funded by bank wire transfers.
How does a seller request payment?
Sellers initiate the release of escrow funds by requesting payment while logged into their PaySAFE account. By clicking the green “payment request” button, the seller will input both the amount requested and their bank account information.
When do escrow funds get released?
PaySAFE only releases escrow funds at the specific requests of both the buyer and seller. Both parties should agree upfront in the transaction detail when it is expected for the funds to be released.

Examples:

  • Once the goods are shipped
  • Once the transportation company confirms pick-up
  • Once the goods are received and inspected by the buyer
Can PaySAFE release money to someone other than the Seller account profile?
No. PaySAFE will only release funds to a bank account owned by the user.
When does the seller get paid?
Once the buyer approves the payment request, PaySAFE will process the seller's automated clearing house (ACH) payment with normal banking hours (usually Monday through Friday 9-5 Central standard time.) The seller will receive the funds within 2 business day, depending on their bank positing of ACH payments.
How does the buyer request a Refund?
The buyer can request a refund after the transaction has been activated by clicking the “request refund” tab while logged into the system and the transaction details are opened. The request will be submitted to the seller for their approval and, once approved, PaySAFE will process the payment.
What is an ACH transfer?
An ACH (automated clearing house) transfer is the electronic transfer of funds processed by the National Automated Clearing House Association, an electronic network of financial institutions.
What happens if the buyer never logs in and releases the funds?
If the buyer never approves the release of funds, PaySAFE can approve the release of funds as long as there is no dispute in progress and it can be proved that the carried out the purchase agreement to completion. These types of requests are dealt with on a case-by-case basis - please call a service rep at 877.638.1518 for more details.
How long will it take until funds appear in the Seller’s account?

ACH (automated clearinghouse) payments will take 24-48 hours to show in the seller’s account and are dependent on banking business hours. All payments initiated prior to 3pm CT will be processed the same business day. Payments initiated after 3pm CT will be processed on the next business day.

Please note: Payments initiated on Fridays after 3pm CT will not begin to be processed until the following bank business day - generally Monday morning barring any Federal holidays.

Why haven’t the Buyer’s funds shown up in my account?

ACH (automated clearinghouse) payments will take 24-48 hours to show in the seller’s account and are dependent on banking business hours. All payments initiated prior to 3pm CT will be processed the same business day. Payments initiated after 3pm CT will be processed on the next business day.

If it has been longer than 3 business days since you were notified that your transaction has been processed, but no deposit is showing in your specified account, please contact us at support@paysafeescrow.com or 877.638.1518.

Please note: Payments initiated on Fridays after 3pm CT will not begin to be processed until the following bank business day - generally Monday morning barring any Federal holidays.

Where does PaySAFE keep my funds held in escrow?
All funds are held in an FDIC insured, non-interest bearing designated escrow account and are disbursed only upon agreement by both parties.
Can I make partial payments?
Yes, partial payments can be made should the seller request only a portion of the total transaction amount. Partial payments are up to the discretion of both buyer and seller.
Is there a fee for partial payments?
Yes. Payments for less than the full purchase or sale amount will incur a $25 charge. These fees are due to the additional fees charged by outside financial institutions to process additional incoming and outgoing wires. For questions, please contact 877.638.1518.
Is there a fee for international payments?
Yes. International payments will incur a $40 charge. If there is a partial payment request, that payment will incur both a $40 international fee and a $25 partial payment fee. These fees are due to the additional fees charged by outside financial institutions to process international fund transfers. For questions, please contact 877.638.1518.

Shipping & Transport

Who is responsible for shipping?
Either party can arrange and/or pay for the shipping or vehicle transportation, but be sure to agree upon this your arrangements prior to completing the transaction.
Does Paysafe collect the transportation cost?
PaySAFE cannot pay third party transportation costs. All funds are only released to the users bank account. It is highly recommended to pay for the transportation cost outside of the escrow transaction.
Is PaySAFE a shipping company?
No. PaySAFE does not play a role in the shipping or transportation of any items, but we can recommend trusted partners who are some of the best in the industry. For more information, see our shipping and transport recommendations.

What's the cost?

Enter the cost to calculate the PaySAFE fee:

$
$
Final pricing is calculated at transaction creation.
Pricing may vary.

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