frequently asked questions

Some Things You Might Want To Know

Frequently Asked Questions

What are the benefits of using escrow?

Escrow protects both buyers and sellers by holding funds until both parties are satisfied ensuring trust and security in the transaction and removing the fear of fraud, delays or disputes.

Is my money safe with SecurrHold?

Absolutely. SecurrHold uses secure financial systems and advanced encryption to ensure that all funds and transactions are protected at every step. Additionally, all funds are insured giving you complete peace of mind throughout the process.

What fees are involved in using SecurrHold?

Our escrow service charges a percentage fee based on the transaction amount which is transparently calculated and displayed before you proceed. It’s free to open a SecurrHold account.

Who pays the escrow fee—the buyer or the seller?

The escrow fee can be paid by either party or split between them, depending on the agreement made during the transaction setup.

Who uses escrow services?

Escrow services are used by businesses, individuals, freelancers and contractors to secure payments in various transactions such as real estate, online shopping and service contracts.

What if there is a dispute during the escrow process?

SecurrHold has a robust dispute resolution process where both parties can present their case and a fair resolution will be made based on the evidence provided. Additionally, our customer care team is available instantly to assist with any issues and either party can easily report a dispute through our platform to ensure swift and fair handling of the situation.

What is an escrow service?

An escrow service acts as a neutral third party that holds funds securely until both parties fulfill their agreed terms in a transaction.

What types of transactions can SecurrHold be used for?

SecurrHold can be used for various transactions including real estate, freelance projects, e-commerce purchases, services and more

How does escrow work?

The buyer deposits funds into the escrow account, the seller delivers the product or service, and once the buyer confirms, the funds are released to the seller.

Why should I use SecurrHold for my transactions and dealings?

ScurrHold revolutionizes the way you transact by offering unmatched security and trust. Our service ensures that funds are safeguarded until every condition is fulfilled, eliminating risks of fraud, non-payment or disputes. With SecurrHold, both parties can confidently proceed, knowing that their interests are fully protected every step of the way.

How do I initiate an escrow transaction with SecurrHold?

To start an escrow transaction with SecurrHold, first create an account on our platform. Once you've agreed on the terms with the other party, you will deposit the total amount (including escrow fees) into our secure escrow account for holding. When the agreed conditions are met, SecurrHold releases the funds ensuring a smooth and secure transaction process.

How long does the escrow process take?

The length of the process depends on the terms agreed upon by both parties, such as delivery timelines or project milestones. Buyer (part 1) can release the funds and seller (party 2) can as well request release of funds.

What happens if the buyer or seller doesn’t fulfill their part of the agreement?

If either party does not fulfill the terms, SecurrHold's dispute resolution process will facilitate resolving the issue and help to determine how funds should be handled.

Can I cancel an escrow transaction?

Yes, an escrow transaction can be canceled if both parties agree to cancel before delivery is confirmed, but fees may apply depending on the stage of the transaction.

How do escrow payments work for service providers?

The buyer deposits the full payment into escrow and funds are only released to the service provider once the work is completed to the buyer's satisfaction.

What is the difference between an escrow account and a regular bank account?

An escrow account holds funds temporarily as part of a transaction process, while a regular bank account is for everyday use by an individual or business.

Can I use SecurrHold for international transactions?

Yes, SecurrHold supports both local and international transactions, ensuring secure payments across borders. For further assistance on this, reach out to our Help Center

How do I track the status of my escrow transaction?

You can track the status of your transaction in real-time via your SecurrHold account, with notifications at every key step.

Can I use SecurrHold for small transactions?

Yes, SecurrHold is ideal for transactions of all sizes, from small purchases to large, complex deals.

What is the dispute resolution process with SecurrHold?

If a dispute arises, both parties will provide evidence, and SecurrHold will mediate to ensure a fair outcome based on the transaction terms.