The Paypal & Escrow Alternative
With so many ways to move money online, it’s easy to get overwhelmed by all the options. PayPal and escrow sites are some of the most popular choices for processing online payments, but they’re not always the best choices for large transactions.
WHAT PAYPAL CAN’T DO
PayPal offers great security for smaller transactions, but several items are deemed ineligible for its Purchase Protection, including vehicles, industrial machinery used in manufacturing, custom-made goods, intangibles such as web domains, and any item collected in person. Even when coverage is offered, single transactions are limited to $10,000 and the contingent “Pay After Delivery” option isn’t available for purchases exceeding that amount.
ESCROW WEBSITES: LESS SERVICE AND HIGHER FEES
Using an escrow site doesn’t guarantee your transaction will be processed in-house, as some of the leading escrow sites send the work out to another vendor. The escrow site may not offer live telephone assistance and, if it does, the person on the other end may only be an intermediary without the access or authority to help immediately.
Despite a sliding scale for escrow fees as the transaction amount increases, even the lowest rates at most sites are more expensive than our paymaster service. Some sites, like Escrow.com, only offer preferred payment methods and email support for a substantially higher cost and only for transactions under $5,000!
THE PAYMASTER DIFFERENCE
Our attorney paymasters provide secure payment distribution according to your terms and we usually do it for less than escrow sites without all the restrictions and added fees. We provide personal service for large transactions and have the flexibility to accommodate nontraditional agreements. There are no registration fees and the details of your transaction remain confidential.
Contact us if your transaction:
Involves a single payment of $50,000 or more;
Calls for milestones or serial payments;
Has terms too complicated for standard escrow; or
Would benefit from phone and email access to the person overseeing the distribution.