What is Escrow? And How does it work?

Escrow transactions are financial arrangements where a trusted third party holds and regulates payment of the funds required for two or more parties involved in that transaction. Escrow ensure transactions are carried out according to the agreed terms and conditions.

Vesicash Escrow www.vesicash.com makes transactions more secure by keeping the payment in a secure escrow account, from which it is released only when all of the terms of the agreement have been met as stated.

Use Cases of Escrow
Escrows are very useful in the case of a transaction where a large amount of money is involved and a certain number of obligations need to be fulfilled before a payment is released, such as in the case of a website being built, where the buyer might want confirmation of the quality of work being done before making a full/partial payment, and the software developer doesn’t want to deliver a ton of work without any payment assurance. While traditional escrow services are quite difficult and must be obtained through banks and lawyers, Vesicash provides instant digital escrow services at affordable rates.
While the payment is 'In Escrow', the transaction can be safely carried out without risk of losing money or merchandise due to fraud. This eliminates all legal jargon and allows for secure transactions and confident buyers and sellers.
Escrows are very useful when you are buying or selling goods/services from someone you barely know. Vesicash escrow ensure you are transacting with verified people at all times.

Who is Escrow For?
Are you a digital business in Nigeria that sells on Instagram, Facebook or Twitter? 90% of the time, you are dealing with unserious buyers. 65% of the people that come across products on these channels fail to buy because they are afraid of being defrauded. Different kinds of fraud on these platforms include: payment not being made for items sold or items not delivered for payment made. The risk for Sellers is in not receiving payment for items they’ve shipped, or most times dealing with unserious buyers which means as a Seller, you would have shipped out items, including the delivery fee and you get nothing in return. Escrow reduces this risk for you as a business because at all times, you are dealing with buyers who have made a financial commitment before you ship out the item. You never have to worry about chargebacks because the money is safely ‘in Escrow’. If you have to issue refunds or returns, Escrow makes it easier to refund without making your buyers or clients wait for days. Escrow eliminates your exposure to fraud.


As a buyer, your payment security is ensured with escrow. The seller does not get your money until you see and confirm your satisfaction with what you paid for.

To be continued... You may visit www.vesicash.com for more information