Jul
15

Bidders Beware When Shopping Online

When it comes to shopping online, online payment and escrow services have become very popular. And for a good reason, they allow online shoppers to pay with a credit card or by electronic bank transfer. The online escrow services hold the shopper’s payment until the merchandise is received and approved, then payment is sent to the seller.

But both sellers and buyers should be aware of phony online payment and escrow services. On many occasions the operators of the service sites will pose as sellers and buyers to fraudulently gain money or goods from others. But there are a few ways to determine whether or not the online payment or escrow service is legitimate.

Reading the service’s terms and agreement is a good place to start to find out if they offer the buyer recourse if the seller does not keep their end of the deal. It should also state whether or not it prevents sellers from accessing their funds if the buyer is not satisfied with the product. This should also state who pays for credit card charge backs and transaction reversal requests.

You will also want to look at the service’s privacy policy and security measures. Do not give out financial or personal information unless you are sure how it will be used. And examine the service’s website as a whole. If it is poorly put together, and has bad quality, and you notice misspelled works, or they claim to be involved with the government, these are very suspicious red flags. If this happens, you want to try and call their customer service center. If they do not have one, or you call and do not get an answer, don’t use their services.

These are all signs of a fraudulent escrow service provider. And if you are still unsure, before using their services you can also check places such as the better business bureau, state attorney general, or consumer protection agency where you live. This will help you find complaints and protect you form using their services.