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How An Escrow Service Can Protect You From Pet Scams

Post author By Bongani Matshisi
Post date May 3, 2024
No Comments on How An Escrow Service Can Protect You From Pet Scams

An escrow service can protect pet buyers from pet scams in several ways:

1. Secure Payment Processing: Escrow services hold payment until the buyer confirms receipt of the pet, ensuring the seller doesn’t receive payment until the buyer has received the pet.

2. Verification of Seller and Pet: Escrow services can verify the seller’s identity and the pet’s existence, health, and ownership.

3. Protection from Fraudulent Sellers: Escrow services can detect and prevent fraudulent activity, such as fake websites or scammers posing as breeders.

4. Safe Transfer of Funds: Escrow services ensure that funds are transferred securely and safely, reducing the risk of financial loss.

5. Dispute Resolution: Escrow services can mediate disputes between buyers and sellers, helping to resolve issues quickly and fairly.

6. Protection from Scams like “Pet Not as Described”: Escrow services can ensure that the pet is as described by the seller, reducing the risk of buyers receiving a pet that is not as expected.

7. Protection from Phishing Scams: Escrow services can detect and prevent phishing scams, where scammers try to trick buyers into revealing sensitive information.

By using an escrow service, pet buyers can significantly reduce the risk of falling victim to pet scams and ensure a safe and secure transaction.

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NEW TRANSACTION

The Seller registers on Paysho. After registration, they will create a New Transaction, detailing what they are selling, provide a brief description of the goods, the price and the details of the person they are selling it to. The Seller will have 1 day to complete the creation of the transaction and to notify the Buyer of it, after which the system will automatically cancel the transaction.
An email will be sent to the Buyer, inviting them to the transaction as created by the Seller via a link to the Paysho website. The Buyer will be required to register before they can access the transaction.
After registration, the Buyer will then have access to the transaction. If they are happy with its details and terms, they will approve it. If they do approve it, they will be directed to a page containing the details of Payshoâ€™s audited trust account into which they will make the payment for the goods. An invoice for the transaction will also be emailed to them. The Buyer will have 1 day to either accept or decline the terms of the transaction after which the system will automatically cancel the transaction.
If the Buyer disagrees with or rejects the details and terms of the transaction that the Seller created on Paysho, they will be required to provide the reason(s) for doing so. The Seller will then be notified via email with the comments from the Buyer and be granted to the opportunity to respond and/or modify the terms of the transaction until both parties are satisfied with them. If the parties cannot reach an agreement on the terms of their transaction, it will be cancelled 1 day after the last communication between them.
When the Buyerâ€™s payment appears and is verified in the Paysho account, the Seller will then be notified of that and be given the go-ahead to ship the goods to the Buyer. The funds will remain safely secured in the Paysho account until both the Buyer and Seller are happy that the terms of the transaction have been met. The Seller will have 2 days to ship the goods and to supply both Paysho and the Buyer with the shipping details (courier and tracking number).Should the Seller not ship the goods and also provide the tracking information to the Buyer and Paysho, the transaction will be cancelled and the Buyer refunded (minus the Paysho fee: See poinf 5 on the General Instructions).
When the Buyer receives the goods, they will have 1 day to accept and confirm whether they are happy with them or not. If they confirm that they are happy with the goods, Paysho will release the funds to the Seller and the transaction will be concluded. If the Buyer, for some reason, does not confirm whether they are happy with the goods or not, after 1 day, the Paysho system will automatically release the funds to the Seller and the transaction will be concluded.
If the Buyer rejects the goods, they will be required to provide reasons for that. The Seller will then receive notification of this and be granted an opportunity to respond. This process will go on until both parties are able to reach a resolution to the matter. If and when they do, the Buyer will be required to accept the goods after which Paysho will release the funds to the Seller and the transaction concluded.
In the event that the Buyer is not satisfied with the goods received from the Seller and no agreement can be reached between them as to how to proceed from there, the Buyer will be required to ship the goods back to the Seller and to supply both the Seller and Paysho with the tracking information (courier and tracking number) within 2 days of their decision to go that route. Failure to do that will result in Paysho releasing the funds to the Seller and the transaction deemed as being concluded.
When the Seller receives the goods, they will have 1 day to accept and confirm whether they are happy with them or not (ie. the goods are still in the condition in which they were sent by the Seller). If they confirm that they are happy with the goods, Paysho will release the funds back to the Buyer and the transaction will be concluded. If the Seller, for some reason, does not confirm whether they are happy with the goods or not, after 1 day, the Paysho system will automatically release the funds to the Buyer and the transaction will be concluded.
If the Seller rejects the goods (for not being in the condition in which they were sent), they will be required to provide reasons for that. The Buyer will then receive notification of this and be granted an opportunity to respond. This process will go on until both parties are able to reach a resolution to the matter. If and when they do, the Seller will be required to accept the goods after which Paysho will release the funds to the Buyer and the transaction concluded.
Should the parties not be able to resolve any dispute among themselves during the course of an active transaction, Paysho will not release any funds to neither the Buyer nor the Seller until both parties find a solution they are both happy with. If an agreement between the parties cannot be reached, Paysho will release any fees in our possession only on the instruction of a legal body.

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Paysho provides financial protection for both the buyer and seller and helps to eliminate the possibility of either party falling victim to fraud or scams.

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