The Wholesale Forums

[pood]

I might be going through a deal where the seller will be using a bank's escrow.

Both him and his bank are located in the US.

how safe are they?

[guru4us]

a bank's escrow? i dont think any bank would offer such a service in the US

[pood]

I'm positive they exist. Most banks should have a type of escrow service.

Just wondering how safe they are.

[guru4us]

im pretty sure banks dont have an escrow service. the closest to that is dealing with L/C.
im with Wachovia and i dont see any escrow service mentioned on their site

[startxing]

Bank escrow? ok, escrow payment service are a third party agent holds on to the money and when both buyer and seller agrees, payment go through to the seller. We pretty sure banks offer Letter of Credit, and they are not call bank escrow.

If that person you dealing with give you that word, I think I will think twice before dealing with him. Unless he means L/C, but L/C costs much more than escrow.com........ It is like some one email me and ask do you have the price of PS4 ? LOL

Best suggestion is, don't believe what he said, but call the bank and check it yourself, really, all you have to do is ask. Also, try to get this bank's number from google or yellowpage etc, don't use the number he offer you, good luck !

[guru4us]

if the seller doesnt even know what form of payment method he can take and how...then whats the point in even dealing with them eh?