The three simple steps
I own a small business. How will escrow help me?
Some of the key benefits of escrow for small business:
- Reduce exposure to late payments and bad debts
- Improve cash-flow
- Improve trust and protect deposits
View some stories from our existing customers here and see how CheckVault’s Online Escrow has changed the way they do business for the better
I am an individual. How will escrow help me?
Escrow helps to reduce the risk of a transaction failing. Having a third party hold funds until both parties are satisfied with a transaction. This can be particularly important when using classifieds or other consumer to consumer transactions.
With escrow, the buyer places funds into escrow. The seller will then provide the goods or services as specified. Having received the goods or services, the buyer approves the release of funds to finalise the transaction.
Here are some examples of where escrow can be helpful:
1. Building or renovating your home
You can use CheckVault to secure each progress claim so you can keep your builder satisfied with the security and at the same time reduce your exposure to insolvency in the construction industry.
2. You wish to buy or sell an expensive item through a classified or online marketplace.
The party making the purchase can secure the funds into CheckVault so that they show commitment in making the purchase and still stay in control of the funds. The party selling the item can then post the item through knowing that their funds in exchange are protected. Once the item has been received and the purchaser is satisfied, the funds can then be released to complete the exchange. This is how both parties are protected throughout the process.
Visit our Frequently Asked Questions page or get in touch
If you feel that this is a service which may work but have some questions, you can try searching for an answer in our frequently asked questions or giving us a call on our support line 1800 CV AU LT (1800 28 28 58).
Purchase with confidence using CheckVault Secure Escrow.
Start accepting CheckVault Secure Escrow for your business today.
Timely payments, retention security, document management.
Rapid integration into existing marketplaces and classifieds.