eBay announced it is offering an integrated escrow service provided by Escrow.com. Escrow services are designed to protect buyers and sellers. Typically third-party escrow services verify a bidder's funds prior to the shipping of a listed item, and hold those funds in a trust account until the merchandise has been received and inspected. There are additional charges for using escrow services.
eBay previously had an exclusive agreement with Tradenable, formerly called i-Escrow. In January, Tradenable ceased operations. Another escrow service, InsureDeal.com, has also ceased operations.
Information posted on eBay's site now says that it recommends members use escrow for transactions over $500.
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