Escrow services

[grandfather102]

I am making a transaction, receiving a fund of over 20k USD.
Escrow.com and Payoneer.com Escrow, creating account at which doesn't need to verify address, or bank information?
At these two forms, can the buyer and seller see each other's bank account information?
Or you guys have any suggest?
Please help.
Thanks.​

 

[convertcontent]

No. That's the purpose behind encryption. There is no way any website would show any sensitive data like bank account information to other others. But just so you know, even if they did show for example, the Routing Number or Account Number, it doesn't matter because you can't use that information to steal your money. Routing & Account numbers are printed at the bottom of standard checks. When you use checks at the grocery store, for example, the employees can't use those numbers to take money from your account unless they proceed with all type of super criminal activity like making fake id's which is a hardcore federal offense.

But you don't have to worry because those types of people already have ways to get all the numbers they use. So there's no sense in worrying about something that is out of your control.

It does seem sketchy at first, no one feels great about giving out bank account numbers period....but in time you realize you can't run a business without doing certain things like paying suppliers with checks...you have to use checks if you have a real business because even the 1-3% fees the company you are paying must pay to allow people to pay with credit card, adds up to be a lot of money.

When I started my first business I thought I was home free because I was purchasing millions of dollars of supplies and materials for my business....which means I get a lot of frequent flyer miles...but you quickly realize the companies you're paying, pass those fees along to you. They always call you up on the phone or it even says it on their invoices.....IF YOU PAY BY CHECK, YOU CAN TAKE 1-3% OFF THE BILL. Since you have the option to pay less by using check, that comes out of your pocket.

 

[grandfather102]

No. That's the purpose behind encryption. There is no way any website would show any sensitive data like bank account information to other others. But just so you know, even if they did show for example, the Routing Number or Account Number, it doesn't matter because you can't use that information to steal your money. Routing & Account numbers are printed at the bottom of standard checks. When you use checks at the grocery store, for example, the employees can't use those numbers to take money from your account unless they proceed with all type of super criminal activity like making fake id's which is a hardcore federal offense.

But you don't have to worry because those types of people already have ways to get all the numbers they use. So there's no sense in worrying about something that is out of your control.

It does seem sketchy at first, no one feels great about giving out bank account numbers period....but in time you realize you can't run a business without doing certain things like paying suppliers with checks...you have to use checks if you have a real business because even the 1-3% fees the company you are paying must pay to allow people to pay with credit card, adds up to be a lot of money.

When I started my first business I thought I was home free because I was purchasing millions of dollars of supplies and materials for my business....which means I get a lot of frequent flyer miles...but you quickly realize the companies you're paying, pass those fees along to you. They always call you up on the phone or it even says it on their invoices.....IF YOU PAY BY CHECK, YOU CAN TAKE 1-3% OFF THE BILL. Since you have the option to pay less by using check, that comes out of your pocket.

Thanks for your explanation. I really appreciate. I just need to know that when using escrow service, can the buyer see the seller bank account info like bank name, etc..
Thanks.

 

[Crysis]

Thanks for your explanation. I really appreciate. I just need to know that when using escrow service, can the buyer see the seller bank account info like bank name, etc..
Thanks.

No. The buyer cannot see the seller's bank account details and vice versa.

 

[grandfather102]

No. The buyer cannot see the seller's bank account details and vice versa.

Thank you for the answer.

 

[Jurgen Wolf]

Buyer pays to the escrow bank account, NOT to you directly.