Hi everyone, I just founded a startup (Web presence and mobile app yet to be built) that involves the transaction of money between two parties. To be able to build a system both parties can trust, I need to integrate a system like Escrow that receives and holds money for a certain period of time.

However integrating Escrow costs a lot (I heard they charge 3.25% for non USA residents which is too high). Now I want some advice if there's an alternative system I can use or just any other way my clients can trust me with their money until transaction is completed.

Thank you.

Birniwa:
Hi everyone, I just founded a startup (Web presence and mobile app yet to be built) that involves the transaction of money between two parties. To be able to build a system both parties can trust, I need to integrate a system like Escrow that receives and holds money for a certain period of time.

However integrating Escrow costs a lot (I heard they charge 3.25% for non USA residents which is too high. Now I want advice if there's an alternative system I can use our just any other way my clients can trust me with their money until transaction is completed.

Thank you.

Frankly, we are in the same shoes as it seems that with my programming skills I know less about the Escrow integration, It can be built from scratch but you'd need more of an accountant and a lawyer than a programmer. Better still you can ask your programmer to use PayPals API, they accept such payment only that they won't move the money around but schedule a payment for the agreed date, so PayPal will release or return the cash depending on the outcome of the deal.

They are a lot of risks involved in running an Escrow like system, The best way customers can trust you is if you have necessary certificates like SSL and others..without those certain certificates , it is even illegal to run an Escrow system on your website. So I guess you even see why Escrow.com is expensive.