posted on October 7, 2000 10:12:44 PM
Does anyone have any information regarding I-Escrow. We are setting up an internet site to sell high dollar items. We are concerned with customers receiving the item and claiming the merchandise is bad (even though it is not), cancelling a credit card purchase and keeping the item. Escrow sounds like the way to go, but we are not sure about I-Escrow. If they are not good, does anyone know any other type of service that we can look at. The MUST be reliable!
posted on October 8, 2000 12:09:45 AM
I have used I-escrow as a buyer. It does have some built in protections for the seller. Scenario: buyer receives item, says it is not as described or whatever and wishes to return it. Buyer returns it. I-escrow will not release funds back to the buyer until seller notifies I-escrow that item returned is the same item originally sent and is in same condition as when sent.
If buyer disagrees, then both parties have to get dispute mediated (I don't know who pays for it) before funds are released.
The drawback for the seller is that buyer can return any item for any reason including buyer's remorse. Buyer has only to say that item was not as described and they are returning it. As a seller, you would be wise to mark your item in such a way so that you can determine if a switch has taken place. Be careful what you sell in this manner. For instance, a computer or other electronic device may have a part that could be removed without your knowledge.
All this aside, my transactions were perfect. I think people tend to be more careful if they know that there are several hoops to jump through to get their money refunded.
