Frequently asked questions about the Escrow service

Why do I need an Escrow service?

Our Escrow service guarantees that buyers and sellers who do not know each other can carry out transactions safely via the Internet. The payment is made step by step. This means that the buyer first pays the purchase amount and the applicable fees into our Escrow account (bank transfer). After receipt of the amount, the product is shipped by the seller. Immediately after delivery of the product, the purchase price deposited in the Escrow account will be transferred by bank transfer to the seller's bank account.

What are the advantages for the buyer when using the Escrow service?

The Escrow service offers you maximum security for the transfer of amounts. You assume no risk by paying the product in advance.

What is the Seller Escrow service?

You are certain that the buyer has arranged the money transfer for the products. If the buyer is convinced that the products are in perfect condition, you will immediately receive the money from our Escrow account. Furthermore, the Escrow service creates more confidence in the client and increases sales and profits.

How much does the Escrow service cost?

Our Escrow service costs a maximum of 2% of the turnover with a minimum fee of only 1 euro! This makes us one of the cheapest Escrow services worldwide. You also have the possibility to determine who has to pay the fees (all fees charged to the buyer, all fees charged to the seller).

Is it dangerous to transfer from my bank account over the Internet?

As we work with high security standards, there is no danger of your data getting into the wrong hands.

What should I take into consideration when transferring funds to an Escrow account?

You must specify the purpose of the transaction (tracking number), so that the transfer of the amount can be attributed to the appropriate buyer without any doubt.

What happens if we transfer too much money?

The difference will be immediately transferred from our Escrow account to the Buyer's account.

What happens if we transfer too little money?

In the case of a small transfer, the seller will be informed to receive money with the message that the amount transferred to our Escrow account was not enough, and the remaining difference has to be paid by the buyer.

Can I use the Escrow service outside Europe?

The use of Escrow services outside Europe can be used at any time without any problems. For the payment/transfer of amounts between EU Member States we will use the standard EU transfer system, which guarantees the most cost-effective transfer of money to our Escrow account.

What is the tracking number?

For each successfully created order you will receive a tracking number with which you can easily check the status of the shipment, e.g. on receipt of the money in our Escrow account, or the updated location of your order in our tracking system.

What should I consider when buying in another country?

As a buyer from France, who wants to buy in another country, you don't have to pay any extra costs. The execution of the sales contract is for you as an internal transaction. As a buyer from another country, you have to specify the IBAN code and your BIC code (SWIFT code). If you are a buyer from France who wishes to buy in another country, your partner must specify the IBAN and BIC (SWIFT code). You have the option of specifying this at registration or later.

In case I don't receive e-mails from 8K Trans?

In some cases, our e-mails can be found in the spam folder. This is only possible in special cases when the spam filtering rules are too strict. If you use a freemail provider, make sure you check the spam folder. If you have a list of close contacts (friends list) available, it is a good idea to add us not to lose future messages from our Escrow service.

What should I consider when selling in another country?

As a seller, make sure you include the IBAN code and the BIC code (SWIFT code). You have the option to specify this when registering or at a later date.

How can I deliver my product?

It is your decision if you wish to use our delivery service to send your product.

What happens if the buyer does not confirm receipt of the product?

If the buyer does not confirm within 7 days after receipt of payment that the product has been delivered, we assume that the buyer has received the product in accordance with the purchase contract and we will transfer the funds from our Escrow account to the seller.

What happens if the buyer refuses to accept the product?

In this case, the product will be returned to the seller. The Buyer receives the payment amount after deduction of the Escrow fees from our Escrow account back into his account or the Bank.

What happens if the product is defective?

The buyer is obliged to report any defects found. This stops the payment to the seller. There is transport damage. In this case, please inquire about the possibilities of recovery at the transport company. However, if a misunderstanding between the seller and the buyer should be the reason for the complaint, we offer you the possibility to come to an agreement.

How much time do I have as a buyer to check the product?

After receiving the product, you have 7 days to check. No later than day 6 after receiving the product, you must either confirm the receipt or file a complaint. If we have not received a complaint by day 6 of the delivery of the product, the amount in our Escrow account will be automatically transferred to the seller's bank account.

Do I have to confirm receipt of the product as a buyer?

When placing the order, the terms and conditions of our escrow service are respected. You are hired to confirm receipt and good condition of the product as soon as the product has been received. This confirmation must be made no later than 6 days after receipt of the product.

Do you have a question that is not answered in this FAQ?

Then contact us by e-mail and we will answer your question as soon as possible.