Escrow services are online rescue teams that help eliminate scammers in the business world. Most freelancers are incorporating escrow apps to avoid losing their funds after completing their projects. The service is an intermediary between the buyer and seller. The escrow services user a strategic payment method where the buyer puts the funds into the escrow. The money is retained until the transactions between the two parties are complete. The funds are released to the seller safely, making it a win-win for both parties.
Freelancers seeking quality, safe, and fast escrow services can invest in Paynco online services to help in invoicing. The platform helps one to trace their payments from different clients and projects. Escrow apps come in handy, especially in receiving payments ticketing items such as airplanes, electronics, automobiles, and more.
Escrow platforms primarily accommodate various payment methods such as Paypal, Venmo, Apple Pay, credit cards, and more. Freelancers need to select the best escrow platforms based on their projects, client payment modes, and accessibility.
Factors to consider when settling for escrow app
It’s wise to align your freelancing needs with the escrow app features for best results. Every escrow app comes with unique features that may have a different impact on your projects. Ensure to compare different apps before settling for one.
Fee and payment details
Genuine escrow apps should have an established payment platform to accommodate every user. The user shouldn’t create other side accounts for payment purposes. They should allow for legitimate payment modes and not use person-to-person payment services such as Western Union.
- Check the disbursement process: Freelancers need to check the payment modes used to disburse the funds. The platform should offer convenient payment intervals.
- Customer support: check the customer support team response rate and communication channels.
- Type of currency: every escrow app uses a different currency; check whether your preferred app accepts the currencies you operate within.
Types of Escrow app for freelancers
Freelancers can incorporate the following companies offering escrow services for their business.
Paynco online payment service
Paynco is a popular digital service that helps guard the buyer’s money until the seller provides the service as directed. The service verifies the process and releases the funds to the seller within the set duration. Paynco offers unique features that allow the client and freelancer to split the fee. It’s a convenient platform for freelancers and clients regardless of distance and currency.
The Escrow.com platform is quite easy to maneuver as it offers quality services at a low price. The service allows for huge transactions and payment options. Freelancers will get the privilege of WordPress through renowned plugins. Escrow.com has great reviews making it a good option for freelancers.
ShieldPay emphasizes security, providing both parties a secure platform to transact. Freelancers can rely on the platform to receive their payments through different platforms and currencies.
The platform offers more independence to the user. One can customize the onboarding process and also set the payment timing. StripeConnect is compatible with different escrow payment options. StripeConnect offers multiple services besides the escrow feature.