BHW Escrow System

I am of the opinion that it would be a great thing for BHW to have an escrow system and eliminate the shortcomings of using paypal for dealing with digital products. Everyone here would agree that immediately when you send money to another person through paypal, you should consider that money as "gone" until the seller/other partner responds and delivers on his own side of the deal.

The existence of a BHW escrow system would help in the following ways:

1. Trust - members would be able to have trust in one another and go ahead with any business deal because they already know that there is an escrow securing their money against any fraudulent partner

2. No scamming - many people take advantage of paypal lapses to scam others because they know that the other party does now have a way of getting his money back. The existence of a BHW escrow system is very likely to reduce or eliminate scams here

3. Make more money - the lack of trust and the problems with paypal always make people to be afraid to go into any joint venture or freelancing service. Many businesses and money-making opportunities have been lost through this way. Therefore, a BHW escrow system would help members to make more money online because of the abundant financial security that would be provided through an escrow system

Of course, BHW would not operate the escrow system for free. There may be a charge of something like 2%, 5% or even 7% of the value of the contract between the partners. This would be as compensation for creating a good environment for people to be able to do business with one another and make money.

A poll on this issue may likely indicate the stance of members on this issue.

Thanks

Then BHW would be held liable for any issues concerning transaction between members I'm quite sure the Admins / Mods / Owners don't want to deal with that headache. However it's a cool idea if someone could offer that service for a small transaction fee.

GreenGoblin said:

Then BHW would be held liable for any issues concerning transaction between members I'm quite sure the Admins / Mods / Owners don't want to deal with that headache. However it's a cool idea if someone could offer that service for a small transaction fee.

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Didn't think of that but you're right.

Wouldn't be so bad if stupid paypal actually did their job. Really hate them. I still am of the opinion that they frequently tell both parties they lost and keep the money for themselves. Doesn't matter which side I'm on I never seem to win a dispute and I've never scammed anyone.

I got your point. But what kind of liability could BHW be subjected to? In most escrow arrangements, the buyer usually gives the final go-ahead for the money to be released. Probably there could be some other hidden liabilities that I'm not aware of.

GreenGoblin said:

Then BHW would be held liable for any issues concerning transaction between members I'm quite sure the Admins / Mods / Owners don't want to deal with that headache. However it's a cool idea if someone could offer that service for a small transaction fee.

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BHW could make the user agree to some type of agreement that removes the liability from BHW.

It's a nightmare to deal with scammers and paypal. This issue has been talked more than 50 times on BHW. It's not going to work.

Example

VIEW 1
Buyer: wishes to pay via credit card to BHW for a purchase from seller
BHW: informs seller buyer has paid
Buyer: Informs BHW that everything is good to go
BHW: releases payment to seller
Buyer: Files chargeback against BHW
BHW: has to now fight with mastercard & visa to get the money back (Headache)

There so many issues another example, seller sales material to buyer in which he or she does own the copyright too, articles, design etc which creates a legal issue. Lets not even get into writing checks lmao

why not use escrow.com

I think the best idea would be to allow BHW to take a percentage if users wanted to use escrow or some kind of a paid way to avoid being scammed.....that way it would be financially viable for BHW and secure for buyers. Viola!!!

JesusBack said:

why not use escrow.com

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This is exactely what I was about to say. I think it is a good idea in theory but like mentioned here before BHW admin wouldn't want the headache.

I think escrow.com should work fine.

If you have smaller payments though you just have to stick with PP and AP.

I used escrow to buy a domain... fee was 25$ and the domain price was 30$... unfair... anyway escrow will be a great solution.

Very good idea, will make services on this site prosper and eliminate all the scammers

I've seen gaming sites that deal with buying and selling of Warcraft Accounts that offer a 'Middleman' Service. They charge about $30 per transaction tho.

If you have a way to eliminate fraud transactions and can lower the price a bit im sure theres an opportunity for someone to maybe open a BST thread offering such service.

GreenGoblin said:

Example

VIEW 1
Buyer: wishes to pay via credit card to BHW for a purchase from seller
BHW: informs seller buyer has paid
Buyer: Informs BHW that everything is good to go
BHW: releases payment to seller
Buyer: Files chargeback against BHW
BHW: has to now fight with mastercard & visa to get the money back (Headache)

There so many issues another example, seller sales material to buyer in which he or she does own the copyright too, articles, design etc which creates a legal issue. Lets not even get into writing checks lmao

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and i really hate the headache part

edit : will bhw files chargeback to seller? lol

wpbacklinks said:

and i really hate the headache part

edit : will bhw files chargeback to seller? lol

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Lol ...paypalem