Escrow services are used to circumvent possible problems, including fraud, when one person is making a financial transaction with someone with which they may not be familiar. This protects the buyer and the seller. However, not all escrow services are legitimate. Although the escrow services offered through Escrow.com are legitimate and beneficial to all parties involved, there are always people out there who are looking to scam potentail buyers and sellers. You need to educate yourself about these types of services and be aware of anything that seems suspicious.

When you use an escrow service, do not respond to any unsolicited emails asking for payment or your financial or any other personal information. Never give out your banking information or PIN number in an email. Even if the email looks to be legitimate from the company you are using, it might not be. Instead, you should contact the service you are using directly and give out that information over a telephone call that you made. this way you can be sure you are talking directly to the company and not with any other individual who may not be looking out for your best interest.

Published in by CARCHEX on November 13, 2014